September 16, 2026 08:57 pm (IST)
Follow us:
Income Tax Department initiates investigation against illegal cash
New Delhi, Feb 11 (IBNS): Income Tax Department, Ministry of Finance, Government of India has initiated investigation into issuance of cheques by companies which are acting as entry operators to convert illegal cash into legitimate money.
ecently in Kolkata, this investigation led to detection of substantial unaccounted income. In these cases, the unaccounted income was sought to be converted into legitimate money with the help of non-genuine companies which were acting as entry operators.
Similarly and based on media reports, enquiry was initiated in Delhi into issuance of cheques by companies which were alleged to be non-genuine and entry operators. The companies and their Directors could not be traced at the addresses given to Banks and Ministry of Corporate Affairs.
Examination of the accounts of these companies revealed that they have issued accommodation entries to several persons and entities for substantial amounts.
It was also found that sources for such entries were prima facie not genuine. To carry forward the investigation process, notices were issued to about 50 persons and entities including two political parties on 9th February, 2015.
These notices seek information about the identity of the contributors and other relevant details which are necessary to complete the process of investigation.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Jaishankar in Bhutan: EAM meets Foreign Minister, key talks on energy, trade and connectivity
Wed, Sep 16 2026
Bangladesh PM Tarique Rahman got 2 India invitations? MEA reveals details after BRICS absence
Wed, Sep 16 2026
From President Murmu’s ADC to paid Instagram creator: Why Major Rishabh Singh Sambyal is facing criticism
Wed, Sep 16 2026
Gurugram biker crash: Main accused Kalyan Bainsla sent to police custody for 2 days
Wed, Sep 16 2026
Pak naval ship collides with Indian Navy unit in international waters; India takes action
Wed, Sep 16 2026
Jadavpur University tightens night entry: Students without legitimate reason after 8 PM to face action
Tue, Sep 15 2026