Sunday, August 20, 2017
facebook

google plus
Uttarakhand

Posted at: Apr 18, 2017, 9:13 AM; last updated: Apr 18, 2017, 9:13 AM (IST)

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

Dehradun, April 18

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

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

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

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

Verma has been granted a month’s bail by the court for appealing in the higher court 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 bank account in Switzerland, which he had not disclosed to the I-T. ANI

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On