Q. With reference to Project Insight, consider the following statements:
1.The project will monitor high value transactions and detect tax evaders using technology with a view to curbing circulation of black money.
2.Central Bureau of Investigation (CBI) is implementing the project.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A
Notes:

Statement 1 is correct: The project will monitor high value transactions and detect tax evaders using technology with a view to curbing circulation of black money.

Statement 2 is incorrect: The income tax department is implementing ‘Project Insight‘.

Source: Pandora Papers and Illegal offshore investments from India – Explained, pointwise