NEW DELHI: The income tax department has unearthed over Rs 2,000 crore in unaccounted income in search and survey operations across the country since the demonetisation of Rs 500 and Rs 1,000 notes on November 8. The department also seized over Rs 130 crore in cash and jewellery.
In a press note on Tuesday, the I-T department+ said it carried out more than 400 investigations after November 8. It also referred more than 30 cases to the ED and the CBI for further investigation under anti-corruption laws and the Prevention of Money Laundering Act (PMLA).
The government has pressed all its investigating agencies to unearth black money transactions+ post-demonetisation. The agencies have been asked to work in close coordination.
According to the I-T department, its Bengaluru investigation unit sent the maximum references (18) to the ED for investigations under PMLA. “These are cases where undisclosed cash in the new notes was seized by the department,” the I-T statement said. The Mumbai unit referred a case to the ED where Rs 80 lakh in the new high-denomination notes was seized.
In Hyderabad, the I-T investigation unit seized Rs 95 lakh in cash from five people. The Pune unit seized Rs 20 lakh in cash, including Rs 10 lakh in the new notes, from the unallotted locker of an urban cooperative bank, the key of which was in the possession of the CEO of the bank.
Two cases referred by the Bhopal unit were of jewellers against whom evidence of large-scale pre-dating of bills and flouting of PAN reporting norms was detected. The cases referred from the Delhi unit included the Axis Bank matter+ , in which the complicity of bank officers was detected.
“Concerted and coordinated enforcement action of the income tax department, the ED and the CBI in detecting malpractices and taking swift action is going to continue in the coming days,” the I-T statement said.