Key SIT meeting on black money scheduled on Feb 28

CHENNAI: A key review meeting of the Special Investigation Team (SIT) on black money will be held on Saturday at the Income Tax Office. The meeting gains significance as the Assembly election is around the corner in the state.

The session, chaired by former Supreme Court judge Arijit Pasayat, is expected to bring together enforcement agencies from both state and central governments across 10 states.

Prominent attendees include Enforcement Directorate director Rahul Navin, who is currently in the city to oversee the progress of ED cases, along with income tax officials, state police representatives, and other central enforcement bodies.

The SIT, established by the Supreme Court, operates under the Black Money Act 2015 to tackle tax evasion through strict penalties, prosecutions, and mandatory disclosure of foreign assets in tax returns. The team meets regularly to evaluate case developments and submits interim reports to the Supreme Court, detailing efforts to trace, investigate, and recover illicit funds.