A tax evasion case has been lodged against a ludhiana-based firm owner for allegedly defrauding State exchequer to the tune of Rs 2.44 crore.
Punjab Excise and Taxation Commissioner Anurag Verma on Tuesday said that the proprietor of ludhiana-based Vishu International Ashwini Kumar had tried to evade taxes by showing inter-State transactions which later turned out to be “fake” during scrutiny of tax returns.
The proprietor has shown the bogus sales of DG sets to a Rajasthan-based firm. The accused dealer who had obtained registration certificate for resale of nuts and bolts and hot rolled steel sheets had declared Rs 50 lakh as expected turnover per annum, he said. “From January 1, 2012, to September 30, 2013, he showed a turnover of about Rs 55 crore. But, during these three years, his total tax payment was nil,” he added.
However, during scrutiny, it was revealed that the dealer had done a turnover which ran into several crores, said Verma while adding that the dealer defrauded the state exchequer to the tune of Rs 2.44 crore by carrying out fake transactions. A case under various Sections including 420 (cheating), 120-B (criminal conspiracy) of Indian Penal Code (IPC) has been registered against Kumar.
“The Department has lodged an FIR against Ashwini Kumar, the proprietor of the firm, under Sections 420, 465, 467, 468, 471, 201, 120-B of the IPC and Section 65, 66, 66-C of the IT Act, 2000, and other relevant provisions,” he added.