Relevant Portions of the Second Report of the Special Investigation Team (SIT) on Black Money Released; On the Directions of SIT, CBDT Directs Various Assessing Officers to Finalize the Assessments for all Actionable Cases (427), whose names are appearing in the HSBC List Received by the Department https://www.taxtmi.com/news?id=13695 CBDT directed Assessing Officers to finalize assessments in 427 actionable HSBC-list cases, resulting in tax and interest levies, initiation of penalties under Section 271(1)(c) and prosecutions under Sections 276C(1) and 276D; enforcement agencies have pursued show cause notices, provisional attachments and adjudications, while the SIT recommends trade data-matching, mandatory PAN/Aadhaar disclosure for higher-value transactions, cash possession limits, FEMA amendments for confiscation of equivalent domestic assets, designating significant tax crimes as predicate offences, enhanced FIU access and a centralized KYC registry to strengthen detection and recovery of illicit funds. en-us Fri, 12 Dec 2014 17:07:42 +0530 Fri, 22 Aug 2025 11:35:00 +0530 TaxTMI RSS Generator Relevant Portions of the Second Report of the Special Investigation Team (SIT) on Black Money Released; On the Directions of SIT, CBDT Directs Various Assessing Officers to Finalize the Assessments for all Actionable Cases (427), whose names are appearing in the HSBC List Received by the Department https://www.taxtmi.com/news?id=13695 CBDT directed Assessing Officers to finalize assessments in 427 actionable HSBC-list cases, resulting in tax and interest levies, initiation of penalties under Section 271(1)(c) and prosecutions under Sections 276C(1) and 276D; enforcement agencies have pursued show cause notices, provisional attachments and adjudications, while the SIT recommends trade data-matching, mandatory PAN/Aadhaar disclosure for higher-value transactions, cash possession limits, FEMA amendments for confiscation of equivalent domestic assets, designating significant tax crimes as predicate offences, enhanced FIU access and a centralized KYC registry to strengthen detection and recovery of illicit funds. News - Fri, 12 Dec 2014 17:07:42 +0530 https://www.taxtmi.com/news?id=13695