The Intelligence and Criminal Investigation Wing (ICIW) of Income Tax (IT) Department detected unreported transactions of Rs 3,000 crore at a bank in Chandrapur on Wednesday. The officials also conducted survey at the Hinganghat Sub-Registrar Office (SRO) and detected unreported transactions worth Rs 130 crore. The surveys were conducted to verify if the two had filed proper Statements of Financial Transactions (SFTs), with the objective of ensuring that no property registry or reportable transaction escapes disclosure.

 

The surveys continued till late night as officials went through files and data to find discrepancies. It is gathered that the IT Directorate is consolidating sub-registrar office data to examine what has been filed and what remains unreported under the SFT. The Inspector General of Registration Office in Pune is co-ordinating the data collation so that property registrations across Vidarbha are comprehensively captured and verified. Based on preliminary findings, the department has begun issuing notices to concerned entities and individuals.

 

The first notice was issued in first week of December, followed by daily notices thereafter, as authorities attempt to obtain complete and consolidated information from reporting entities. Alongside the property and banking checks, the department had placed around 130 hospitals, including several multi-speciality health care facilities in Nagpur, under scrutiny for possible lapses in reporting cash transactions. The ICIW wing issued seeking financial records for the last financial year to verify whether high-value receipts were disclosed to ICIW. The deadline to submit the same was in November, however, only 80 hospitals of the city have till now submitted the data.