Post demonetisation, Income Tax department sends 30 cases of irregularities to Enforcement Directorate, CBI
December, 07th 2016
The Income Tax department has expedited investigation in more than 400 cases since the demonetisation of the old high-denomination currency was announced by the government on November 8.
More than Rs 130 crore in cash and jewellery has been seized and approximately Rs 2,000 crore of undisclosed income made public by taxpayers since then.
Detecting serious irregularities beyond the Income Tax Act, the Central Board of Direct Taxes (CBDT) decided to refer such cases to the Enforcement Directorate and the CBI, enabling them to examine the criminal conduct for immediate necessary action.