Impact of Functioning of IRS
Indian Revenue Service officers work in unearthing of many scams in the country is little known. Their assessment orders are taken as starting points for all fraud and economic offences investigations. Investigation conducted by the Revenue Service officers is used by other enforcement agencies in cases of corruption too. Efforts of Indian Revenue Service officers has resulted in earning huge sums of public money for the exchequer and also in catching many criminals. Starting with the Fodder Scam in 1995 case to the more recent Madhu Koda case in Jharkhand was result of co-ordinated efforts of Indian Revenue Service Officers and led to unearthed allegedly illegal investments and Hawala transactions of Rs. 2000 crore. Recently, Indian Revenue Service officers at Income Tax Department were roped into look at various irregularities in allotment of 2G Spectrum Scandal and also in Disproportionate Assets cases in Andhra Pradesh, recent scam in Reebok India Ltd.
Efforts of the Members of the Service also led to the recovery of black money worth Rs.10,000 crore in last year alone in India. Around 565 crore worth black money is brought into taxation from France alone.
Newly created Directorate of Criminal Investigation under the Central Board of Direct Taxes focuses on the Business-Criminal-Bureaucrat nexus and tackle Black money issue. This agency is modelled on US IRS and would consist of Agents carrying firearms to investigate into the high profile cases of Black money.
Read more about this topic: Indian Revenue Service
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