Investigation Wing of Income Tax department launches following drive to locate tax evaders in wake of Income Declaration Scheme [ Letter dated 05-07-2016] as under

1.      Non PAN AIR Information to be targeted. In CIT-1, Amritsar there are 6928 cases of Non PAN AIR Information. In CIT-2, Amritsar, there are 8357 cases of Non PAN Air Information. Jammu is much ahead with 32150 cases. Jalandhar 50728 cases. Chandigarh with 2382 cases only.

2.      Functionality to own up non PAN data being developed

3.      Non filers with potential tax liabilities to be targeted.

4.      Penny Stock cases where shares are purchased off the market at little value and sold at high market value to earn exempt long term capital gain on shares

[Note : Recent Court Orders have cancelled the additons made by department for penny stocks like Farah Marker dated 13-06-2016 Indravan Jain HUF  dated 16-06-2016 by ITAT Mumbai, Mukesh Rati Lal Marolia (Bombay High Court) 13-06-2016]