I-T department probes 30,000 cases of tax evasion after note ban

July 24, 2017 22:23

The Income Tax department is probing over 30,000 cases of alleged tax evasion wherein the returns were revised by assessees post demonetisation, CBDT chief Sushil Chandra said.

The Income Tax returns filed after November 8 last year were scrutinized against their earlier tax compliance following which these cases were detected, he said.

"We are taking action in these instances," Chandra told reporters.

He said that after the first phase of 'Operation Clean Money', it was found that some assessees did not report about all their bank accounts to the taxman.

Under the Operation Clean Money, the I-T department is contacting those whose bank account deposits were seen to be suspicious post the note ban.

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