Law enforcement agencies take strict actions to curb black money

To curb the menace of domestic black money, Law Enforcement Agencies (LEAs) under the Department of Revenue have achieved success in fighting against domestic black money in the last three years. The period has witnessed unprecedented enforcement actions in direct and indirect taxes. The Enforcement Directorate has registered a total of 519 cases and conducted 396 searches. They have also made arrests in 79 cases and attached properties worth Rs.14 933 crore. The Benami prohibition law, which was not functional for the last 28 years, was made operational for these cases and under it more than 245 benami transactions were identified. Provisional attachments of properties worth Rs.55 crore have already been made in 124 of these cases. To track and curb cash transactions through various means, effective measures have been taken up by the enforcement agencies. A high powered group has been set-up to co-ordinate and monitor actions taken by the concerned departments, there objective is to eliminate the channels generating black money, and its application. The crackdown against black money will be further intensified in the coming days, making sure that tax evaders and money launderers pay a heavy cost for their deviant behavior.