CAG raps I-T dept for spending Rs 1,000 cr on rent despite having own land

I-T dept is now preparing a fresh proposal of preliminary estimation for developing its land in Mumbai

The income-tax department, grappling with tax slippages, seems to be also lagging when it comes to optimum utilisation of its own assets. The department’s spends on office spaces in Mumbai — considered to be the most expensive real estate market in India — have been objected to by the Indian Audit and Accounts Service. 

The audit office, a department of the Comptroller and Auditor General of India, in its draft report, has highlighted that the tax department spent Rs 1,000 crore on rentals despite possessing a huge land bank at Nariman Point since the 1990s, sources said. The audit office