Tax evasion case lodged against Ludhiana's firm owner

A tax evasion case has been lodged against a Ludhiana-based firm owner for allegedly defrauding state exchequer to the tune of Rs 2.44 crore, Punjab Excise and Taxation department today said.
State Excise and Taxation Commissioner Anurag Verma said proprietor of Ludhiana-based Vishu International Ashwini Kumar had tried to evade taxes by showing inter-state transactions which later turned out to be fake during scrutiny of tax returns.
The accused dealer who had obtained registration certificate for resale of nuts and bolts and hot rolled steel sheets had declared Rs 50 lakh as expected turnover per annum, he said.
However, during scrutiny, it was revealed that the dealer had done a turnover which ran into several crores, Verma said.

He said the dealer defrauded the state exchequer to the tune of Rs 2.44 crore by carrying out fake transactions.
A case under various sections including 420 (Cheating), 120-B (criminal conspiracy) of IPC has been registered against Kumar, he said.