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Jeweller gets two-year imprisonment for not disclosing Swiss Bank account

ANI  |  Dehradun (Uttarakhand) [India] 

An owner of a famous jewellery showroom in Dehradun was sentenced on Monday to two years of rigorous imprisonment for hiding his Swiss account from the (I-T) department.

The has also slapped a fine of Rs. 25,000 on Raju Verma, who owned 'Jewellers'.

On March 14, 2012, the department had found that the man had Rs. 92 lakh in his account, which he had not disclosed.

He was later convicted under section 276 C (1) (willful attempts to evade any tax) and section 277 (false statement in verification) of Act 1961.

Verma has been granted a month's bail by the for appealing in the higher and other 16 accused have been arrested in this matter too.

The I-T department had received a written complaint in 2012 that Verma had a personal account in Switzerland, which he had not disclosed to the I-T.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 18 2017. 09:02 IST
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