IT dept to scrutinize 50 HNI buyers of NiMo's jewellery

Agencies
July 14, 2018

New Delhi, Jul 14: The Income Tax Department has decided to re-assess the ITRs of over 50 high net-worth individuals (HNIs) who purchased costly jewellery from firms owned by absconding diamantaire Nirav Modi, official sources said on Friday.

They said the taxman decided to initiate the step after a number of people, it sent notices asking them to explain the source of income for the purchase of the jewellery, denied any cash payment made by them to Nirav Modi's firms.

Officials said the department has gathered documents that indicate that these select buyers of high-end jewellery had split the total payment for diamond jewellery, by paying a part through cheque or card (debit/credit) and the rest in cash.

In reply to the tax notices, most of the people said that they did not make any cash payment, but this version does not corroborate with the data obtained by the IT Department vis-a-vis the sales made by the firms of Nirav Modi.

It has been found from the company books that payments were received after splitting them into cash and cheque/card transactions, officials said, hence it is essential to re-assess the income tax returns (ITRs) of these over 50 people beginning from the 2014-15 assessment year.

They said if discrepancies of concealed cash payments are found, which in some cases may be in several lakhs, the HNIs will be charged for tax evasion and subsequent action will be initiated.

Some more cases of this nature are under preliminary probe, the officials said.

The department had recently conducted searches on the premises of a Rewari-based hospital group, related to the family of Swaraj India leader Yogendra Yadav after it was found that the owners of the firm allegedly made a part-cash and cheque payment against the purchase of jewellery from a Nirav Modi firm.

The tax department has already filed a charge sheet against Nirav Modi and others before a Mumbai court for alleged tax evasion.

Nirav Modi and his uncle Mehul Choksi are also being investigated by the Enforcement Directorate and the CBI after it was detected that they allegedly cheated Punjab National Bank of more than Rs 13,400 crore with the purported involvement of a few of its employees.

The scam, which reportedly began in 2011, was detected in January this year, after which PNB officials reported it to the probe agencies.

Two criminal complaints were filed by the ED in these instances after taking cognisance of CBI FIRs.

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News Network
April 24,2024

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Ambikapur (Chhattisgarh): Prime Minister Narendra Modi on Wednesday hit out at the Congress, saying the 'vote bank hungry' party wanted to implement reservation on the basis of religion.

Addressing a poll rally in Ambikapur, the headquarters of Surguja district in Chhattisgarh, PM Modi also said the Congress wanted to impose inheritance tax in the country and snatch the rights of people's children.

Some forces want a "weak" government of the Congress and "I.N.D.I." alliance in the country as they thought that if India becomes 'atmanirbhar' (self-reliant), their shops will be shut, he said.

"Today when I have come to Surguja, I want to present the Muslim League thinking of the Congress in front of the country. When their manifesto was released, on the same day I had said, and saying today also that the Congress manifesto has the imprint of Muslim League," Modi said.

When the Constitution was being drafted, it was decided under the leadership of Babasaheb Ambedkar that there would be no reservation on the basis of religion in India, he said.

"If there will be reservation then it will be for by Dalit brothers and sisters and tribal brothers and sisters," he said.

"But the vote bank hungry Congress never cared about the words of the great personalities, sanctity of the Constitution and the words of Babasaheb Ambedkar. Years ago, the Congress made an attempt to implement reservation on the basis of religion in Andhra Pradesh. Then Congress has planned to implement it in the entire country," Modi said.

They talked about implementing 15 per cent reservation on the basis of religion and said it will be done after curtailing the quota of the Scheduled Castes, Scheduled Tribes and Other Backward Classes, he added.

In its 2009 manifesto, Congress's intention was the same and in the 2014 manifesto, it clearly said it will not leave this issue, the prime minister said.

The Congress wanted to change the Constitution and hand over rights of the SCs, STs and OBCs to its vote bank, he said.

The intention of the Congress is not good, it is not according to the Constitution, social justice and secularism. If anyone can protect your reservation, it is the BJP, Modi said.

"The Congress's eyes are not only on your reservation, but also on your earnings, your houses, shops and farms. The 'shehzada' of Congress (apparently referring to Rahul Gandhi) says they will conduct an X-ray of the property of every house and every family in the country. The Congress will snatch all these from you and they say that they will equally distribute them," he said.

Do you know to whom they will distribute it after 'looting' it from you? Modi asked, to which the people replied in affirmative.

"I need not to tell you to whom they will distribute," he added.

Modi further said the 'dangerous intentions' of Congress are coming to forth one by one and now it says it will impose inheritance tax.

"The advisor of shehzada of the shahi parivar, who was also the advisor to the shehzada's father, had said that more tax should be imposed on the middle class and those who earn by toiling hard. Now the Congress says it will impose inheritance tax. It will impose tax on the assets inherited by people from their parents. Now, the panja (Congress poll symbol) will snatch the assets from your children," he said without taking any name.

The Congress' mantra is 'loot of Congress zindagi ke sath bhi, zindagi ke baad bhi', he said.

"They (Congress) want to snatch your assets and rights of your children," Modi added.

The PM also said he had come to seek people's blessings for a developed Chhattisgarh and a developed India.

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News Network
April 22,2024

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The BJP has opened its account in the ongoing Lok Sabha elections. The party's candidate from Gujarat's Surat constituency, Mukesh Dalal, has won the polls as all his opponents are now out of the fray.

BJP's Mukesh Dalal elected unopposed from the Surat Lok Sabha seat after all other candidates withdrew from the contest, the party's Gujarat unit chief CR Paatil said today. Today was the deadline for withdrawing nominations.

The nominations of the Congress party's Surat candidate and his substitute were rejected by the returning officer over alleged discrepancies in paperwork, a development that the Congress called an attempt at "match-fixing".

"Surat has presented the first lotus to Prime Minister Narendra Modi. I congratulate our candidate for Surat Lok Sabha seat Mukesh Dalal for getting elected unopposed," Mr Paatil posted on the microblogging website X, referring to the BJP's election symbol.

Eight candidates - seven of them independents - and Pyarelal Bharti of the Bahujan Samaj Party (BSP) withdrew their papers.

The nomination papers of the Congress's Surat candidate Nilesh Kumbhani was rejected on Sunday after the district returning officer Saurabh Parghi found discrepancies in the signatures of the proposers.

The nomination form of Suresh Padsala, the Congress's substitute candidate from Surat, was also found invalid.

The returning officer had said the four nomination forms submitted by the two Congress candidates did not appear genuine. The proposers, in their affidavits, had said they had not signed the forms themselves, the returning officer said in the order.

Congress lawyer Babu Mangukiya said the party will approach the high court and the Supreme Court for relief.

Congress leader Jairam Ramesh in a post on X said the Surat developments indicate "democracy is under threat". "Our elections, our democracy, Babasaheb Ambedkar's Constitution - all are under a generational threat. This is the most important election of our lifetime," Mr Ramesh said.

Mr Ramesh alleged the "distress" of micro, small and medium enterprise (MSME) owners and the business community in PM Modi's "Anyay Kaal" and their anger have "spooked the BJP so badly that they are attempting to match-fix the Surat Lok Sabha polls, which they have won consistently since the 1984 Lok Sabha elections."

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News Network
April 27,2024

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"I always wanted to be in a bar fight," said a US police official after pinning a Black man down on the ground and kneeling on his neck. The man later died at a hospital.

Ohio Police have come under intense scrutiny following the release of body camera footage showing officers pinning a Black man to the ground in a bar, reminiscent of the events that led to George Floyd's death in 2020.

The video, released by the Canton Police Department, captured the moments leading up to the death of Frank Tyson, a 53-year-old man suspected of leaving the scene of a single-car accident on April 18.

In the footage, officers are seen confronting Tyson inside a bar, where an altercation quickly ensues. Despite Tyson's pleas for help and his repeated cries of "I can't breathe," officers wrestle him to the ground and handcuff him, with one officer applying pressure to his back near his neck while saying, "You're fine." 

Tyson continues to plead for relief while lying on the floor. After several minutes, officers notice his lack of responsiveness and proceed to administer CPR. Paramedics arrive on the scene and transport Tyson to a local hospital, where he later dies.

In the body cam footage, one police officer can be heard bragging about how he always wanted to be in a "bar fight" with one of the patrons of the establishment. 

The circumstances surrounding Tyson's death draw chilling parallels to George Floyd's fatal encounter with Minneapolis Police in 2020 which sparked global outrage. 

The officers involved in Tyson's case, identified as Beau Schoenegge and Camden Burch, have been placed on administrative leave pending an investigation by the Ohio Bureau of Criminal Investigation. 

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