Demonetization: Bengaluru tops list of ED cases

BENGALURU: As Income Tax department steps up its vigil on black money holders, Bengaluru has topped the list of income tax cases that have been referred to the enforcement directorate ( ED) for further probe.

The Bengaluru investigation unit of the IT department has referred 18 cases to ED for further investigations. These are the cases where undisclosed cash in new high denomination notes was seized by the IT officials.

According to a press release on Tuesday, the IT department has carried out swift investigations in more than 400 cases since demonetization of old high denomination (OHD) currency on November 8. The department has seized more than Rs 130 crore in cash and jewellery and, received declarations of about Rs 2000 crore of undisclosed income by taxpayers.

The Central Board of Direct Taxes (CBDT) has decided to refer such cases involving serious irregularities to ED and CBI to examine the criminal conduct aspect for necessary action. The IT department has already referred more than 30 such cases to ED, and is referring to CBI for further probe.

The government announced that the coordination action by IT department ED and CBI will continue in the coming days.