On SIT’s recommendation Government has already declared that the cash transaction beyond Rs 3 lakh will be treated as illegal and punishable under law.
Deputy Chairman of Supreme Court- appointed SIT on black money, Justice Arijit Pasayat, stated that Rs 70,000 crore of black money has been unearthed so far and sixth report on it will be submitted to Apex Court in April.
He further added that Rs 70,000 crore of black money, including more than Rs 16,000 crore detected after probe launched into global leaks about Indians stashing funds abroad, has been unearthed through different schemes of Government.
He said SIT made several recommendations in past two years through its interim reports to check generation of the black money.
“While most of our recommendations have been accepted by government, some are under active consideration to clampdown on black money,” he added.
Justice Pasayat stated that he has asked State Crime Branch, probing various the wrongdoings of Private Educational Institutions, jewellery shops, real estate companies, self-styled godmen, mafia dons, to share their findings with the sleuths of Income Tax department and Enforcement Directorate for a thorough probe.
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