The concept of income tax in India dates back to the year 1860. Presently, the Income Tax Department functions under the legal framework of the Income Tax Act, 1961. This legislation is extensive, comprising 52 chapters spread over 823 pages. However, the newly proposed bill has streamlined the content into 23 chapters and 16 schedules, covering 622 pages. The Income Tax Department is widely recognized across the country for its stringent measures against individuals involved in financial misconduct, including tax evasion and unlawful accumulation of wealth.
Landmark Raids Conducted by the Income Tax Department
Over the years, the Income Tax Department has carried out several high-profile raids across India. Among these, one particular operation stands out as the most significant and extensive. This unprecedented raid spanned nine consecutive days, during which officials faced immense challenges in counting the enormous sum of seized cash manually. Consequently, the department relied heavily on note-counting machines to facilitate the process.
The Largest Income Tax Raid in Odisha
The most notable raid in the history of the Income Tax Department took place in the state of Odisha. The operation primarily targeted multiple units of a prominent liquor manufacturing company. The investigation extended for an exhaustive nine days, culminating in the seizure of a staggering Rs 354 crore in cash. Given the scale of the raid, officials employed advanced equipment, including ground-scanning devices, to detect hidden valuables buried beneath the surface.
Deployment of Note-Counting Machines
Due to the enormous volume of cash recovered during the raid, the Income Tax Department deployed approximately three dozen note-counting machines. Additionally, personnel from various banks were summoned to assist with the counting process. Rigorous security protocols were enforced to ensure the safe transportation of the confiscated funds to the department’s office.
Recognition of Officers’ Efforts
The exceptional dedication and efficiency displayed by the officers involved in this large-scale raid did not go unnoticed. The Central Government honored the team for their commendable work. Leading this remarkable operation were Principal Director of Income Tax Investigation, SK Jha, and Additional Director, Gurpreet Singh. Their leadership played a pivotal role in the successful execution of this historic raid.
Conclusion
The Income Tax Department in India continues to serve as a formidable entity in combating tax evasion and safeguarding the nation’s financial integrity. Operations like the Odisha raid highlight the department’s commitment to maintaining transparency and ensuring compliance with tax regulations. Such actions serve as a stern reminder to those attempting to bypass the law, reinforcing the importance of adhering to the country’s tax system.