The government today said that the Income Tax department has seized assets worth Rs 176 crore in the first four months of this fiscal.
In the current fiscal till July, the I-T department has executed 1,136 warrants and has seized assets worth Rs 175.59 crore, Minister of State for Finance S S Palanimanickam said in a written reply to the Lok Sabha.
"The I-T department has conducted search and seizure actions during the financial years 2008-09, 2009-10 and 2010-11," he said.
During 2009-10, the department has given 3,454 warrants and seized assets worth Rs 963.50 crore and in 2008-09 the value of assets confiscated was Rs 550.23 crore and 3,379 warrants were executed.
In a separate reply to the Lower House of Parliament Palanimanickam said that total number of appeals pending before the Commissioner of Income Tax (Appeal) as on March 31, 2009, was 1,58,031.
"The total amount locked up in the appeals was Rs 1,99,101 crore," he said.
