IT raids premises at Gurudwara Lane over suspicious cash deposits

Report by: 
EOI CORRESPONDENT
Port Blair
27 Feb 2017

The Income Tax Department raided a premise at 18, Hindu Sahitya Kala Parishad, Gurudwara Lane on Monday. According to reports, the raid comes in the wake of large cash deposits made during demonetization phase and the Income Tax Department led by Smt Aashwita Lal, Deputy Commissioner of Income Tax here, Mr Ujjwal Kumar, ITO and Mr Sunil Kumar, Inspector are probing instances of cash deposits to identify cases involving risk of tax evasion. Based on information of cash deposits collection and analyzed by the Central Board of Direct Taxes (CBDT), a number of persons in these islands have been identified whose cash transactions are not in line with those available with the IT department.
The IT Department detected cash deposits to the tune of Rs 3.5 crores during the demonetization period and the accused could not substantiate the huge cash deposits. The IT raid at the premise is still underway, according to latest reports. According to information, several notices have been sent to various parties in these islands seeking explanation of sources of the cash deposits made by them. More such raids are expected to follow in cases where there is no compliance with the notices sent by the IT department.