I-T dept detects Rs 3.67 Cr black income after raids on Odisha

The Income Tax Department today claimed to have detected undisclosed income of Rs 3.67 crore and recovered Rs 6 lakh in new notes after raids at the premises of a senior forest department officer in Odisha.
I-T officials said the tax department conducted searches against the officer here and in Balasore yesterday, following reports of huge deposits made by him and his family members in various bank accounts post demonetisation.
Efforts by PTI to reach the forest department officer concerned did not fructify.
They said while the department detected undisclosed assets worth Rs 3.67 crore, including bank deposits and land properties at a few locations, Rs 6 lakh in new notes (Rs 2,000/Rs 500) was recovered during the operations.

They said the officer could not "satisfactorily" explain the source of these assets even as he claimed he had agricultural income.
Income from agricultural sources is exempt from tax under law.
The officials said the officer was also found to be not filing any Income Tax Returns (ITRs) as he told the taxman that tax is deducted from his salary and hence he was not filing such returns.
"Further probe is on," an official said.