pampi jain: Pampi Routed ₹10 Cr Through Shell Companies: I-t Sleuths | Kanpur News

Kanpur: Samajwadi Party MLC and perfume businessman Pushpraj Jain alias Pampi Jain is considered to have invested his own money to the tune of Rs 10 crore in his business through shell companies and made bogus purchases worth Rs 10 crore to evade taxes, revealed sources.
“Around Rs 10 crore has been routed through shell companies and bogus purchases worth Rs 10 crore have also been made,” said an income tax official.
“It has come to the fore during the raid that Pampi Jain has invested his own money in his business through shell companies. Although the number of these companies is not much, the team is investigating the status of these companies,” the official added.
Another anomaly of huge bogus purchases worth Rs 10 crore has also been detected, said sources. “Though these goods have been shown in the stock of the company for purchase, but the stock never actually arrived,” they added.
There is also an issue of input tax credit in this which is being investigated by the officers of Directorate General of GST Intelligence and the income tax department as well, said an officer.
Meanwhile, the raid by the income tax department which started on Friday evening at the house and business establishments of perfume trader Pampi Jain has ended at about eight places but was continuing at 12 other locations at the time of the filing of this report. “The raid is expected to be over by late night,” sources claimed.

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