Ministry of Finance
Department
of Revenue
Central Board of
Direct Taxes
North
Block, New Delhi
Dated: 12th February, 2015
Sub:- Press Release on the shift in the
focus of the department from civil consequences to criminal consequences in
serious cases of tax evasion.
- During
2014-15 (upto Dec, 2014) the ITD has conducted searches in 414 groups and
seized undisclosed assets of Rs. 582 crore. Undisclosed income of Rs. 6769
crore has been admitted by the tax payers during such searches. The undisclosed
income detected as a result of further enquiries is however much more.
- Besides,
1174 surveys conducted upto November, 2014 led to detection of undisclosed
income of Rs. 4673 crore.
- Focus
of investigation in the Income Tax Department (ITD) had so far been on civil
consequences i.e. revenue augmentation.
- In
its crusade against black money and with a view to have credible deterrence
against generation of black money, the Government has shifted the focus to
successfully prosecute the offenders in shortest possible time.
- Wilful
attempt to evade tax is a serious offence punishable under Section 276C of the
Income Tax Act, 1961 with imprisonment upto 7 years and fine.
- During
the current year 628 prosecution complaints have been filed upto December, 2014
56 of such prosecution complaints relate to offences concerning undisclosed
foreign income.
(Rekha Shukla)
Commissioner
of Income Tax
(Media
& Technical Co-ordination)
Official
Spokesperson
Central Board of
Direct Taxes
