I-T dept re­opens files of 50 HNIs, all clients of Ni­rav

The Times of India (Mumbai edition) - - TIMES NATION - Pradeep.Thakur @times­group.com

New Delhi: The in­come tax de­part­ment has re­opened re­turns for re­assess­ment of in­come of at least 50 high net worth in­di­vid­u­als in Delhi who had bought di­a­monds and jew­ellery from Ni­rav Modi, in­clud­ing the wife of Ab­hishek Singhvi, in cash and with un­ac­counted in­come.

I-T de­part­ment of­fi­cials said all of them had ad­mit­ted to mak­ing cheque pay­ments but de­nied the cash por­tion paid to Modi. The de­part­ment has started re­open­ing re­turns of such in­di­vid­u­als and is re­assess­ing their in­come since 2014-15 as­sess­ment year and adding cash trans­ac­tions to their in­come de­spite ob­jec­tions filed.

Gau­tam Ya­dav, po­lit­i­cal leader Yogendra Ya­dav’s rel­a­tive who was searched two days ago in Re­wari, is one such in­di­vid­ual. The tax de­part­ment found that Gau­tam Ya­dav, who runs a hos­pi­tal in Haryana, had Rs 15 crore worth of un­ac­counted trans­ac­tions.

Anita Singhvi, wife of se­nior Con­gress leader Ab­hishek Manu Singhvi, had ear­lier filed her re­sponse to the I-T no­tice on pur­chases from Ni­rav Modi stores. All those who were served no­tices, in­clud­ing Anita Singhvi, ad­mit­ted to pur­chase of di­a­monds and jew­ellery. How­ever, they said they paid by cheque and re­fused to ad­mit to cash pay­ments.

Sources in the tax de­part­ment said any doc­u­ment seized dur­ing a search had to be seen and ac­cepted in its en­tirety. “One can­not say half of it is true and the other half is wrong,” a source said.

In Anita Singhvi’s case, she was sent a no­tice in Fe­bru­ary to ex­plain the source of Rs 5 crore in cash she had used to buy jew­ellery from Modi. She had pur­chased jew­ellery worth over Rs 6.8 crore of which Rs 1.58 crore was paid by cheque and the rest in cash for which she had pro­vided her PAN, sources said.

Dur­ing a search on Modi last year, the I-T de­part­ment had un­earthed a list with details of jew­ellery bought in cash and cheque. The de­part­ment in­ves­ti­gated peo­ple who had paid in cash and mapped them through their PAN. Anita Singhvi’s name was one of them. The I-T de­part­ment has also sent such no­tices to peo­ple in Mum­bai and other cities. How­ever, in the first round, no­tices were sent only to peo­ple who had pur­chased jew­ellery for Rs 5 crore and more.

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