CBDT asks I-T dept to impose 'higher tax rate' on fraudulently revised ITRs

CBDT had earlier said that those "drastically" altering the forms to revise income will face scrutiny

The CBDT has asked the taxman to go over with a fine tooth-comb scrutiny cases where a taxpayer has filed a revised income tax return (ITR) post demonetisation and directed them to slap "higher tax rate" in instances where black money is detected.

The policy-making body of the I-T has issued a two-page instruction/directive to all regional chiefs of the department on November 24, stipulating the way forward while assessing scrutiny cases selected for suspicious financial activity, post note ban.

"Unaccounted income so assessed in scrutiny assessment is liable to be taxed at a higher rate without any