People are encouraged to call this number to furnish specific information relating to cash or other valuables suspected to be used for unduly influencing the election process, Director General of Income Tax (Investigation), Uttar Pradesh and Uttarakhand, Mohan Kumar Singhania said on Thursday.
The CBDT said the group engaged in the business of chit fund was running an unauthorised business and all the investments and payouts of more than Rs 400 crore in the last few years were done entirely in cash.
"The searches, so far, have resulted in the detection of undisclosed income of over Rs 300 cr and unaccounted cash of Rs 9 cr has been seized," CBDT said in a statement.
The raids were conducted on Tuesday and "unaccounted" Rs 6.40 crore cash and jewelry worth Rs 1.70 crore were seized from the about 40 premises searched.
It, however said that Swiss Authorities have been requested to provide the relevant facts along with their view on possible reasons for increase or decrease in deposits so that facts could be presented in correct perspective.
The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years.
The Income Tax Department has detected an alleged cash-for-seat scam running in some Karnataka-based medical colleges, as the CBDT said over Rs 400 crore blackmoney has been generated in the name of capitation fee by these institutions.
The Income-Tax Department has detected alleged unaccounted income of more than Rs 150 crore after it raided premises of "leading" coal traders of Assam, the CBDT said on Monday.
The Central Board of Direct Taxes (CBDT) on Friday launched the Centre's much-publicised reform measure of faceless income tax appeals.
The Modi government may soon announce an amnesty scheme for gold to bring hordes of black money used in buying the yellow metal considered a safe investment option in India.
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