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IT Dept conducts raids on late Congress leader Satish Sharma's family, associates over 'undisclosed foreign assets, black money'

ANI | Updated: Mar 09, 2022 23:01 IST


By Shailesh Yadav
New Delhi [India], March 9 (ANI): The Income Tax Department is conducting a search on the family members and associates of late Congress leader Satish Sharma.
Searches are underway at Delhi, Mumbai and Goa, sources told ANI.
According to the sources, the Foreign Asset Investigation Units (FAIUs) of the Income Tax Department are conducting a search at the family members and associates of the late Congress leader, who died last year.

FAIUs are conducting a search after getting credible information about "undisclosed foreign assets and black money" stashed abroad, as per sources.
The FAIUs have been created as new wings within the various investigation directorates of the Income Tax Department to bring focus on cases of undisclosed assets held abroad by Indians and black money stashed abroad.
FIAUs have been recently created in all the investigation directorates of the tax department located in various parts of the country that are primarily tasked to undertake raids and seizures, and develop intelligence to check tax evasion done by various methods.
India is now getting voluminous data in this context by way of various fresh treaties signed and some of those which have been re-negotiated in the recent past, said an officer involved in the process of creation of FIAUs.
This is the first big search by FIAUs done by the Delhi unit. (ANI)

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