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Counting of money by authorities on the fifth day of the Income Tax division raids versus Odisha- based distillery and connected entities, in Ranchi, Sunday, December 10, 2023. (PTI Photo)
On August 21, 2024, Finance Minister Nirmala Sitharaman acknowledged the initiatives of the Income Tax group in charge of the considerable procedure.
The Income Tax Department performed its biggest raid to day, taking an extraordinary Rs 352 crore in money in 2015. The procedure, which occurred in December 2023 versus a distillery team in Odisha, included an extensive 10-day initiative of checking and safeguarding the confiscated money.
On August 21, 2024, Finance Minister Nirmala Sitharaman acknowledged the initiatives of the Income Tax group in charge of the considerable procedure. The group, led by Principal Director of Income Tax Investigation SK Jha and Additional Director Gurpreet Singh, was granted the ‘CBDT Certificate of Excellence’ throughout an event inBhubaneswar The occasion belonged to the parties noting the 165th wedding anniversary of the Income Tax division.
The procedure, which lasted for 10 days, caused the biggest money seizure by any type of company in the nation up until now. On December 6 in 2015, Singh, a 2010 set policeman of the Indian Revenue Service (INTERNAL REVENUE SERVICE), played a critical function in the raid targeting numerous facilities of an Odisha- based distillery team based upon workable knowledge.
During the search, the division made use of a specialist scanning maker to identify belongings hidden underground. To take care of the huge quantity of money, 36 note-counting makers were made use of, and numerous financial institutions and their workers helped in the checking procedure. In complete, Rs 351.8 crore was recouped from the procedure.
The Income Tax Department is currently concentrating on recuperating exceptional tax obligation needs. Officials are being advised to keep an eye on 5,000 instances where a total amount of Rs 43 lakh crore is to be gathered.
