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Wednesday, August 04, 2021

Tax evasion case against Amarinder Singh, son: I-T submits additional ‘evidence’ from abroad in court

A case against Amarinder Singh is registered under section 277 (false statement of verification) of the I-T Act while two other cases against Raninder are registered under section 276-C (evasion of tax) and section 277 of the I-T Act.

By: Express News Service | Ludhiana |
July 6, 2021 6:46:52 pm
The CM was informed that the plant at Talwandi Sabo had resumed 660 MW production, improving the power situation in the state.

The Income Tax department has submitted additional evidence in a local court in Ludhiana in the alleged income tax evasion cases against Punjab Chief Minister Capt Amarinder Singh and his son Raninder Singh.

The court had last month allowed the submission of additional documents after the I-T department moved an application under section 311 of CrPC (Power to summon material witness, or examine person present) for the same.

The father-son duo has been booked in three cases filed by the I-T department for allegedly amassing wealth in foreign countries and then concealing information to evade income tax.

Rakesh Gupta, counsel for I-T department, said that the attested documents received from competitive authorities from abroad were submitted in the court of chief judicial magistrate Sumit Makkar Monday as additional evidence in all the three cases. “The next date of hearing has been fixed for July 19,” said Gupta.

The I-T department had pleaded in the court that the additional evidence that they seek to place on record against Amarinder Singh “are necessary for establishing the link between the accused and the foreign corporate entities” and “necessary for just decision of the case”.

The department, as per the details of the case, has accused the father-son duo, of “amassing wealth in foreign countries by floating various corporation entities/trusts… and then furnishing false information to I-T department to evade income tax”.

“Accused is beneficiary of Jacaranda Trust, which owns various corporate entities namely Allworth Venture Holding Limited, Mulwala Holdings Limited, Limerlock International Limited, Ferx Asset Holdings Limited and Chillingham Holdings Limited through agent Nomihold Securities Inc. Apart from having huge bank balances with HSBC Bank Pvt. Ltd., the aforesaid corporate entities own immovable properties in Dubai and other foreign countries as well. However on being inquired accused deliberately concealed the information with respect to aforesaid corporate entities or immovable properties owned by these corporate entities. Therefore, any document which establishes the relationship between the accused and aforesaid corporate entities is obviously essential for the just decision of the case,” it has further submitted.

A case against Amarinder Singh is registered under section 277 (false statement of verification) of the I-T Act while two other cases against Raninder are registered under section 276-C (evasion of tax) and section 277 of the I-T Act. The I-T department is the complainant in all three cases.

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