Income Tax department to file court cases against bankers, depositors

NEW DELHI: The Income Tax department will file court cases for "wilful evasion of taxes" against depositors and those bank authorities who have been found guilty in an RBI probe following allegations of money laundering in a sting operation conducted by an online portal.

The department will prosecute individuals and banking authorities under 276C of the Income Tax Act which deals with the offence of 'wilful attempt to evade tax' and theCentral Board of Direct Taxes ( CBDT) has issued directions to all its chief commissioners in the country to speed up investigation in their respective jurisdictions with regard to this expose.