The Central Board of Direct Taxes (CBDT) has clarified that the Income Tax Department is currently scrutinizing only a handful of cases relating to takeovers, mergers and acquisitions; not 380 or 100 as reported in some sections of the media. Tax scrutiny is an ongoing process and the numbers vary from year to year. This has already been stated in replies to several Parliament Questions 

The Income Tax Department reposes trust in taxpayers. It scrutinizes about 1 percent of its total taxpayer base. Selection of cases for scrutiny is risk-based and non-intrusive. Besides, some cases are scrutinized following intensive tax investigation, such as surveys, search and seizure. Mere incidence of takeover, merger and acquisition does not qualify a case for tax-scrutiny. The overall scrutiny level by the Income Tax Department has never exceeded 1.5 percent in the last decade.  Tax scrutiny of mergers and acquisitions is limited and risk-based; M&A alone does not trigger assessment. The CBDT states that tax scrutiny of takeovers, mergers and acquisitions is limited and driven by a risk-based selection process; the Income Tax Department typically scrutinizes about one percent of taxpayers, has kept overall scrutiny below one and a half percent, maintains trust in taxpayers and uses non-intrusive measures, while intensive investigation tools such as surveys, searches and seizures may lead to detailed scrutiny. Mere occurrence of an M&A does not by itself trigger tax scrutiny.