The Central Board of Direct Taxes (CBDT) on Friday highlighted the concerted and coordinated actions of law enforcement agencies (LEAs) under the Department of Revenue who have achieved phenomenal success in fighting the menace of black money during the last three years.

According to the CBDT, the period has witnessed unprecedented enforcement actions in direct and indirect taxes. While 23,064 searches and surveys have been conducted; more than Rs 1.37 lakh crore of tax evasion has been detected. Simultaneously, criminal prosecutions were launched in 2,814 cases and 3,893 persons were placed under arrest.

The Enforcement Directorate intensified its anti-money laundering actions by registering 519 cases and conducting 396 searches. Arrests were made in 79 cases and properties worth Rs 14,933 crore were attached. The Benami Prohibition Law, which remained in-operative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016. More than 245 benami transactions have already been identified.

However, the relevant laws and rules have been streamlined and tightened, plugging the loopholes and strengthening the penal provisions.

Effective steps were taken to track and curb cash transactions through various means like penalising cash transaction of more than Rs 2 lakh; limiting allowable cash expense up-to Rs 10,000 only; making Aadhaar mandatory for obtaining PAN and filing of income tax returns; making PAN mandatory for cash deposits above Rs 50,000 and compulsory linking of PAN with bank accounts.

The crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions) by the LEAs (IT/ED/MCA/SFIO/CBI).

During the last three financial years (2013-14 to 2015-16), Income Tax investigations led to detection of more than 1,155 shell companies or entities used as conduits by over 22,000 beneficiaries.

With Inputs From ANI.

Law Enforcement Agencies

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