15.3 C
New Delhi
Tuesday 28 January 2020

I-T attaches Rs 1,200cr SEZ unit of Gitanjali in Hyderabad

New Delhi: The Income Tax Department on Thursday said it has attached a Rs 1,200 crore worth property of the Gitanjali group, located in a Special Economic Zone (SEZ) in Hyderabad, in connection with its tax evasion probe.

The officials said the property has been provisionally attached under the Income Tax law and the action was taken to “recover outstanding tax demands”.

They said the valuation of the property, in the SEZ at Rs 1,200 crore, has been done by the assessee and the department has put up a notice on the property.

The department, in the last few days, has similarly attached nine bank accounts and seven properties of the group and Choksi.

The department had first raided billionaire diamond jeweller Nirav Modi in January last year on charges of alleged tax evasion and had also surveyed Gitanjali Gems promoter Choksi’s businesses.

Modi, Choksi and others are being investigated by multiple probe agencies after it recently came to light, following a complaint by the Punjab National Bank (PNB), that they allegedly cheated the bank to the tune of Rs 114 billion, with the purported involvement of a few employees of the bank.

The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have registered two FIRs each to probe this case.

PTI

Stay on top - Get daily news in your email inbox

Sirf Views

Soros Loves To Play Messiah To The Miserable

The opportunity to throw breadcrumbs massages the ego of NGOs supremacists run; the megalomaniac Soros is a personification of that ego

Pandits: 30 Years Since Being Ripped Apart

Pandits say, and rightly so, that their return to Kashmir cannot be pushed without ensuring a homeland for the Islam-ravaged community for conservation of their culture

Fear-Mongering In The Times Of CAA

No one lived in this country with so much fear before,” asserted a friend while dealing with India's newly amended citizenship...

CAA: Never Let A Good Crisis Go To Waste

So said Winston Churchill, a lesson for sure for Prime Miniter Narendra Modi who will use the opposition's calumny over CAA to his advantage

Archbishop Of Bangalore Spreading Canards About CAA

The letter of Archbishop Peter Machado to Prime Minister Narendra Modi, published in The Indian Express, is ridden with factual inaccuracies

Related Stories

Leave a Reply

For fearless journalism

%d bloggers like this: