CAG flags Rs 25,085 crore tax effect from 1,902 assessment lapses

The CAG identified 1,902 tax lapses involving over twenty-five thousand crore rupees. These cases involved incorrect tax rates and faulty income computations. Many lapses occurred after demonetisation during the 2017-18 assessment year. Assessing officers failed to apply relevant sections in numerous unexplained transaction cases. This resulted in under-assessment of tax in the majority of identified instances.

Raccontata daeconomictimes.indiatimes.com