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Black money: ITprosecution action triples in FY17

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Prosecution action by the Income Tax( IT) Department in black money cases has shot up three times with the taxman filing over 570 such charge sheets across the country till January this year.
The department, according to an official report, has also directed its field offices to not spare cases of“serious irregularities” indeposits as certained by it under´Operation Clean Money´after demonetisation and file court cases against such entities.
The latest prosecution figures do not include action linked to demonetisation as such cases are still in the investigation stage,a senior IT officer said.
There port said IT prosecution action in cases of tax evasion hasjumped 300 percent to 570 complaints filed till January in FY17, as compared to 196 such complaints filed in courts during the corresponding period in the last financial year across the country.
Business Standard New Delhi,15th March 2017

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