The Central Board of Direct Taxes today informed that the Income Tax department has started probing 30,000 cases of alleged tax evasion wherein the income returns or ITRs were revised by assessees post demonetisation.
CBDT chief Sushil Chandra said that these cases were detected after the Tax authorities scrutinised latest ITRs - filed after November 8 - against their earlier tax compliance.
The CBDT chief said that after the first phase of 'Operation Clean Money', it was found that some assessees did not report about their bank accounts to the tax authority.
The government had recently started an initiative - Operation Clean Money - to verify the transaction made after demonetisation. The I-T Department identified 5.56 lakh new persons whose tax profiles were found to be inconsistent with the cash deposits made by them during the demonetisation period.
The operations were carried out during the second phase of Operation Clean Money. In the first phase, 1.79 million people were identified for e-verification as they had made large cash deposits. "We are taking action in these instances," Chandra said.
Chandra also talked about newly enacted Benami Transactions Act under which the tax department has made attachments worth Rs 840 crore in 233 cases till now. "We have found that many shell companies are owning such (benami) properties. Action will be taken," he added.
Under Operation Clean Money, details of the cash deposited in bank accounts aggregating to Rs 2 lakh or more are required to be given in the ITR. This information will be matched with the information in possession of the Income Tax Department. The information regarding the cases and accounts identified has been made available in the e-filing window of a PAN holder at the portal https://incometaxindiaefiling.gov.in.