Income Tax (IT) Department carries-out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016; More than 130 crore in cash and jewellery seized and approximately 2,000 crore of Undisclosed Income admitted by the taxpayers; IT Department refers large number of cases with serious irregularities detected Post De-monetization to Enforcement Directorate (ED) & CBI

Income Tax (IT) Department carries-out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016; More than 130 crore in cash and jewellery seized and approximately 2,000 crore of Undisclosed Income admitted by the taxpayers; IT Department refers large number of cases with serious irregularities detected Post De-monetization to Enforcement Directorate (ED) & CBI https://www.taxtmi.com/news?id=17032 Post demonetisation tax enforcement uncovered undisclosed income and extensive seizures of cash and jewellery; where conduct exceeded tax law, the CBDT made referrals to enforcement agencies so the Enforcement Directorate and the CBI could examine potential criminal conduct. Referrals arose from seizures of newly issued notes, bank locker discoveries, alleged banking complicity, and evidence of pre dating of bills and PAN reporting failures, with coordinated action between tax and enforcement agencies continuing. en-us Tue, 06 Dec 2016 17:50:17 +0530 Tue, 06 Dec 2016 17:50:17 +0530 TaxTMI RSS Generator Income Tax (IT) Department carries-out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016; More than 130 crore in cash and jewellery seized and approximately 2,000 crore of Undisclosed Income admitted by the taxpayers; IT Department refers large number of cases with serious irregularities detected Post De-monetization to Enforcement Directorate (ED) & CBI https://www.taxtmi.com/news?id=17032 Post demonetisation tax enforcement uncovered undisclosed income and extensive seizures of cash and jewellery; where conduct exceeded tax law, the CBDT made referrals to enforcement agencies so the Enforcement Directorate and the CBI could examine potential criminal conduct. Referrals arose from seizures of newly issued notes, bank locker discoveries, alleged banking complicity, and evidence of pre dating of bills and PAN reporting failures, with coordinated action between tax and enforcement agencies continuing. News - Tue, 06 Dec 2016 17:50:17 +0530 https://www.taxtmi.com/news?id=17032