Tag: Operation Clean Money

Extension of timeline for completing assessments in Operation Clean Money cases where ITR not filed u/s 142(1)

Extension of timeline for completing assessments in Operation Clean Money cases where no return filed in response to notice u/s.142(1)  F.No.225/363/2017-ITA-IIGovernment of IndiaMinistry of Finance Department of Revenue Central Board of Direct Tax********************** New Delhi, 26th July, 2019 ToAll Principal Chief-Commissioners of Income-tax All Principal Director Generals of …

Operation Clean Money Phase-II Enforcement action in high risk cases to be taken – Finance Minister

Operation Clean Money Phase-II Enforcement action in high risk cases to be taken i.e.; verification, search, survey, scrutiny – Finance Minister Ministry of Finance Press Release 16-May, 2017 The Union Minister of Finance, Shri Arun Jaitley, launches Operation Clean Portal; Will enable citizen engagement for creating a tax …

Reopening for cash deposits for non response to notice u/s 133(6) illegal where assessment was completed u/s 143(3)/147 4 years before

Reopening for cash deposits for non response to notice u/s 133(6) is illegal where assessment was completed u/s 143(3)/147 and 4 years have lapsed. Soon after the demonetization, the Income Tax Department (‘Department’) had launched a scheme called “operation Clean money” for online verification of cash deposits in …

Persons whose tax profiles not match with cash deposits made in bank during the demonetization period identified-Operation Clean Money

Persons whose tax profiles not match with cash deposits made in bank during the demonetization period identified-Operation Clean Money  Ministry of Finance PIB Press Release dated 10/03/2017 Operation Clean Money; Income Tax Department identifies 17.92 Lakh persons whose tax profiles were not in line with the cash deposits …
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