The department has used big data analytics for comparison of deposits made after the November 8 decision to scrap high- value banknotes with information in its database to identify tax-payers whose cash transactions do not appear to be in line with the tax-paying profile.Under &China screw barrel of injection moulding machines Suppliers39;Operation Clean Money' launched by the I-T department on January 31, the department has sent SMS and e-mails to 17. In addition to the earlier 18 lakh cases, 5.72 lakh person have responded on sources of the cash deposits. Such incremental data analysis has already led to identification of new cases for e-verification, he said.The department initiated the second phase of the # 'Operation Clean Money' on April 14, under which more than 60,000 persons, including 1,300 high risk persons, have been identified for investigation into claims of excessive cash sales during the demonetisation period. In addition to the earlier 18 lakh cases, 5. 

 The department has decided to close the verification in cases where there was justifiable explanation of source of cash.More than 6,000 transactions of high value property purchase and 6,600 cases of outward remittances shall be subjected to detailed investigations under the Operation Clean Money II.The department had engaged two specialised data analytics agencies and a business process management agency to analyse large volume of cash deposit data, track the compliance status of taxpayers and reporting entities.71 lakh new accounts relating to 1.33 lakh accounts involving cash deposits of around Rs 2.Post demonetisation on November 8, the tax department is flushed with information from various sources, including statement of financial transactions (SFT) filed by banks. The online responses have been assessees and no further action will be taken in cases of satisfactory explanation," the I-T department said.33 lakh accounts involving cash deposits of around Rs 2.. Of these, 9."

The income tax department has also identified 3.Under this, detailed investigations would be conducted on businesses like petrol pumps, traders and property purchasers claiming cash sales as the source of cash deposits which have been found to be excessive compared to their past profile or industry norms during the note ban period.89 lakh crore.The tax department is conducting analysis in conjuction with previously available/analysed data

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