(PTI)
A whopping Rs 5,400 crore worth of “undisclosed income” has been detected by law-enforcing agencies till January 10 since demonetisation came into force last November, the government has told the Supreme Court.
It also made references to “various malpractices” which came to fore post demonetisation, including the use of old currency notes for buying gold.
Giving details about the raids and recoveries by the law -enforcing agencies, it said that after the demonetisation period of November 9 to December 30, 2016, the Income Tax department had initiated “Operation Clean Money” on January 31 to leverage technology and data analysis for e-verification of the cash deposits made during that period.
The Ministry of Finance in an affidavit said that between November 9, 2016 and January 10, 2017 alone, there were more than 1,100 raids/surveys conducted by Income Tax Department on various persons. During this period, over 5,100 notices were issued for verification of “high value suspicious cash deposits made in bank accounts”, it said.
