New Delhi: According to official data presented to Parliament on Tuesday, the number of groups searched by the Income Tax Department and the subsequent seizure of assets has exhibited a rising tendency over the last three financial years.
In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary stated that during the 2022-23 fiscal year, the tax department conducted raids on 741 organisations and recovered assets totaling Rs 1,765.56 crore.
In a similar vein, the IT department conducted 686 raids and confiscated assets totaling Rs 1,159.56 crore during the 2021-22 fiscal year, up from 569 raids and Rs 880.83 crore during the 2020-21 fiscal year.—Inputs from Agencies