Set up SIT to probe Indian money in tax havens abroad: SC

The Supreme Court today asked the union government to consider setting up of a special investigation team (SIT) to probe the issue of black money stashed by Indians in tax havens abroad.

A bench headed by justice B Sudershan Reddy said the issue did not concern a single case but was much wider.

He asked the government to set up a SIT comprising officers from different departments including the Enforcement Directorate, Central Bureau of Investigation (CBI) and the income tax (I-T) department to look into it.

The bench of justices B Sudershan Reddy, S S Nijjar asked solicitor general Gopal Subramaniun to respond by 28March.

Cancelling the bail granted by the lower court to Pune-based stud farm owner Hasan Ali Khan, who has allegedly parked a huge amount of unaccounted money in foreign banks, the apex court granted the ED four-day custody of Ali. The court expressed serious displeasure over the trial court order releasing him on bail.

The court also asked the solicitor general to furnish names of officers who could be included in the SIT.