In a nationwide investigation, 9 bitcoin exchanges, including two in Bengaluru, have come under the lens of the Income Tax Department’s investigation wing in Bengaluru.
The survey operations by the sleuths that started on Wednesday morning involved gathering evidence for establishing identity of investors an traders, sources in the department said. The survey will also involve ascertaining transaction undertaken by them, identity of the counter parties and related bank accounts used by them, among others.
While search operations of the IT department will also include seizure of documents, jewellery and cash, if found, the survey operation will involve going through the documents to ascertain if there are any irregularities in showing income.