Demonetisation: Petrol pumps get I-T notice in Bengal for spike in deposits

The notices have been sent to find out if the sales figures correspond to the deposits made

The income tax department has asked over 160 fuel pump owners in West Bengal to furnish details of transactions over the past few months after their bank accounts suggested a sharp spike in the demonetisation phase, according to a report published by The Telegraph. 

The dealers who have been sent notices include around 40 from Kolkata and its adjoining areas.

Prime Minister Narendra Modi announced the demonetisation drive on November 8 but petrol and diesel pumps were allowed to accept old notes of Rs 500 and Rs 1000 till December 2.

Also Read: Petrol pumps, airlines will accept banned Rs 500 notes only till Dec 2
 

The notices have been sent under section 133A of the IT Act to find out if the sales figures correspond to the deposits made.

"Let the pump owners explain how their returns shot up. If they cannot, they have to pay a penalty (under an amnesty scheme)," a tax official said.

Tushar Sen, president of the West Bengal Petroleum Dealers Association, said: "There are some 3,000 petrol pump dealers across Bengal, and the number that has been brought under scanner is negligible," further reported the daily. 

Sen said tax officials had invited the association members for a meeting on Tuesday and told them to pay up under the amnesty scheme called the Pradhan Mantri Garib Kalyan Yojana. Some reports had said the amnesty scheme, which ends on March 31, had so far evoked a tepid response in the country.

Also Read: IDS-II gets cold response