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I-T prosecutes Mumbai trader for depositing Rs 3 cr by using duplicate PAN

Tax evasion to the tune of Rs 500 has been established during demonetisation

Shrimi Choudhary  |  New Delhi 

The income-tax (I-T) department is planning to initiate criminal prosecution against 30 individuals for allegedly amassing undisclosed wealth of aroun Rs 500 crore during demonetisation for purposes of tax evasion. Of the 30 cases, the tax department has filed its first criminal prosecution against a Mumbai-based trader for allegedly using a duplicate permanent account number for depositing over Rs 3 crore. In the petition, the tax department has submitted evidence in the form of closed-circuit television footage, bank account details and transactions to the Mumbai ...

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