Nagpur: Tax sleuths here conducted the first-ever survey under new Income Tax Act of 2025, which came into effect from financial year 2026-27. Sources said the action against a tractor dealer in Bramhapuri tehsil of Chandrapur district found that a series of cash dealings worth over Rs2 lakh in a single transaction were not reported in the statement of financial transactions (SFT). The SFT is a mechanism to track down high-value transactions not reported in the returns by individual taxpayers. . The action was taken by intelligence and criminal investigation (I&CI) section of Income Tax dept, which keeps a tab on high-value deals. “Provisions are same, but the action shall remain a landmark for the department here as it is the first survey done as per the new law,” said a source. TNN
