I-T searches, assets seizure increased over last three fiscals: Govt data

The number of groups searched by the Income Tax Department and the resulting seizure of assets has shown an increasing trend over the last three financial years, according to a government data placed in the Parliament on Tuesday.

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Minister of State for Finance Pankaj Chaudhary said, in a written reply, to the Rajya Sabha that a total of 741 groups were raided by the tax department and assets worth Rs 1,765.56 crore seized during the 2022-23 fiscal.

Similarly, 686 groups were searched by the I-T department during the 2021-22 fiscal and properties worth Rs 1,159.56 crore were seized preceded by 569 groups raided in 2020-21 and assets worth Rs 880.83 crore were seized.