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04-12-2012, 10:18 PM #1
Undisclosed income of R 9,200 cr detected in FY'12Tax authorities detected undisclosed income of over Rs 9,200 crore during their search operations across 330 business establishments last fiscal, the government said on Thursday.
The searches were conducted by the Investigation Directorates of the Central Board of Direct Taxes (CBDT).
"On the basis of assets, documents and other evidence unearthed during such searches, undisclosed income exceeding Rs 9,200 crore was detected," CBDT said in a statement.
Besides, tax authorities also seized unaccounted assets of Rs 880 crore (including Rs 500 crore in cash) in 2011-12. In the previous fiscal, tax authorities had seized unaccounted assets of Rs 775 crore.
CBDT said as many as 5,132 warrants were executed in the last fiscal as against 4,852 in 2010-11.
In last three years through 2011-12, the department of revenue has unearthed undisclosed income of Rs 28,040 crore....being a human...