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I-T searches fall this year

Source : BUSINESS_STANDARD
Last Updated: Fri, Nov 23, 2012 20:41 hrs

Even as the Income Tax Department faces flak over black money and unaccounted income, the government’s search-and-seizure operations appear to have seen a substantial fall in the first half of the current financial year.

According to the details provided by Minister of State for Finance Namo Narain Meena in a written reply to in the Lok Sabha today, the department had issued 1,540 search warrants across the country in the April-September period. This is just 29 per cent of the 5,260 search warrants issued in 2011-12.

The number of search warrants rose from 3,454 in 2009-10 to 4,852 in 2010-11.

The I-T Department carries out search-and-seizure operations based on credible information on companies, associations of ‘persons’, including individuals in possession of any money, bullion, jewellery, documents or any other valuable article or thing that represents undisclosed income of the person.




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