Income Tax department slaps fresh charges against Nirav Modi under new anti-black money law

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NEW DELHI: The Income Tax Department has re-indicted Zaveri Nirv Modi, under the new law of black money under the Punjab National Bank (PNB) scam, allegedly illegally possessing illegal assets worth Rs 11,400 crore abroad. .

According to him, this is another foreign wealth which has not been disclosed by the threatened people of the Karmentman by the Hirayetar, who is suspicious of leaving India in January.

Last week, the Income Tax department lifted the black money (Covert Foreign Income and Assets) and Taxation Act, 2015, against Mr. Modi last month. Public for tax authorities
The latest foreign asset is suspected to be a trust registered in the jersey located on the coast of Normandy. Investigation of a business trust is under way for the funds of the funds having links with Modi.

This section is also investigating the transfer of two funds - from Cyprus to Singapore, 284 crores and Rs. 271 crores - India's diamond-related generation. On February 16, the Income Tax Department temporarily connected 105 bank accounts of diamond merchants, their families and companies as part of the 29 properties and its tax investigations.

The new black money law is associated with the case of illegal illegal assets, which have been investigated under the Income Tax Act, 1961 so far. The new law provides 120% tax and penalty on secret foreign wealth and income. Jailed for 10 years.

Taxation was also filed in the special court in Mumbai under section 276C (1) [intention to avoid tax], 277A (false statement in verification), 278 B (criminal conscission) and 278A. Income tax Act, 1961 (Guaranteed as a criminal mental state).

The court will take up the case on 27th February

Tax officials stipulated the connection instructions in the properties of Modi, his wife Ami and his companies located in Mumbai, Surat, Jaipur and Delhi.

In the capital of Maharashtra, the properties which have been temporarily assessed, have Modi's place in Posh Peder Road area, Worli, Bandra, Lower Parel and Opera House.

A total of 105 bank accounts of Modi, his family and companies are also linked.

The IT report used by PTI said that "these connections have been made keeping in mind the huge demand raised in the ongoing evaluation process in the case of Nirve Modi, his family members and the group's concerns." .

In January last year, ITT accused Modi of alleged tax evasion.

Modi, his uncle, Mehul Choksi and others were accused in the Punjab National Bank's scam worth Rs 11,400 crore.