KV Chowdary resgins as blackmoney SIT Advisor

NEW DELHI: A day before he is set to take over as the new Central Vigilance Commissioner (CVC), former CBDT Chairman KV Chowdary today resiged from the post of Advisor to the Special Investigation team (SIT) on black money.

Officials said the 1978-batch Indian Revenue Service officer put in his papers after receiving the warrant of appointment to the new post from President Pranab Mukherjee.

They indicated that the work of the Advisor may now be looked after by the Member (Investigation) in the Central Board of Direct Taxes (CBDT) as the government is unlikely to appoint a new officer on this post.

Chowdary was appointed as the Advisor to the high-powered panel soon after he retired as the CBDT boss in October last year.

While his six-month term ended in May this year, he was given a three-month extension on the post, the term for which was supposed to end in July 2015.

However, he was appointed CVC in the Central Vigilance Commission before the expiry of this term.

The SIT was formed by the Supreme Court and notified by the government last year and it is mandated to take up investigations against those Indians who have stashed illegal funds abroad and to suggest new policy measures to curb the menace.