Cuttack: The Supreme Court-appointed Special Investigation Team (SIT) on black money on Wednesday stressed on the need to regulate online gambling and rising narcotic trade and asked anti-corruption probe agencies to coordinate with Enforcement Directorate (ED) and Income Tax for better results.
SIT vice-chairman Justice (Retd) Arijit Pasayat made this remark after a meeting with various stakeholders, including ED director Rahul Navin, Central Board of Direct Taxes (CBDT) chairman Ravi Agrawal, and senior officials from state vigilance, customs, and excise.
He also indicated that the SIT is expected to submit its ninth interim report to the Supreme Court within a fortnight to a month. To date, the panel has already submitted eight reports.
"We have consistently argued that corruption should not be limited to the Prevention of Corruption Act alone. It must also be addressed under Income Tax laws and the Money Laundering Act, as black money represents undisclosed income," Justice Pasayat said.
He noted that the SIT has been advising anti-corruption agencies to coordinate closely with the ED and Income Tax authorities.
"If agencies suspect that information might be leaked before raids, they should promptly share their findings with the ED and Income Tax authorities post-raid. This will ensure a coordinated approach to combat corruption and detect black money," Pasayat explained.
The SIT vice-chairman stressed the urgency of information sharing to aid in prosecuting corrupt individuals. "Everyone at today's meeting agreed on the need for proper coordination, which will send a strong message that corruption will not be tolerated," he added.
Justice Pasayat also expressed concern about GST evasion, which involves substantial amounts of money and contributes to the country's black money problem. He cited a recent instance in Bhubaneswar, where over 80 kg of gold and silver were recovered.
Regarding online gambling, Justice Pasayat warned of its dangerous trend, particularly among youth. "Many people are engaging in online gambling with the hope of becoming rich quickly. While it may be legally permissible, the extent to which it is being practiced sends a negative message to society," he said.
On the issue of narcotic trade, Justice Pasayat noted its significant impact not only financially but also on public health. "The value of seized narcotics runs into thousands of crores. We have seen cases where Rs 3,000 crore was involved," he added.