Nagpur: The income tax department, which is also investigating the Anant Jain alias Sontu case, plans to soon ask the police to hand over the cash seized during raids at Sontu’s premises.
After a complaint was registered against Sontu, for duping a businessman of 58 crore through a manipulated betting app, the cops had raided his premises. Cash 17 crore and a lot of gold was seized. The total assets have been valued at over 32 crore. The identity of the complainant has been kept under wraps by the police.
It is learnt that the directorate of investigation of income tax department would be sending a requisition to the police to transfer the cash and valuables. As per the procedure, these assets would be kept in his personal deposit (PD) account. This is an account against the assessee’s PAN but held by the concerned principal chief income tax commissioner of the department.
An official said since the cash and other valuables were found at Sontu’s place, he will have to convince the taxmen about the source. The onus of proving the legitimacy of cash and assets is on the person from whose premises it is seized. If he is unable to prove the source of the assets, the money and gold would be deposited with the government exchequer.
The transfer should have happened soon after the seizure, but it has taken time considering the sensitivity of the case, said a source. According to the procedure, the investigation wing will submit an appraisal report and the case would go to the central circle of income tax for final assessment and recovery of tax dues.
CA Kailash Jogani said the handing over may not be a simple process. For the police, the cash is also part of evidence, which it may need for further investigations and court proceedings.
We also published the following articles recently
After a complaint was registered against Sontu, for duping a businessman of 58 crore through a manipulated betting app, the cops had raided his premises. Cash 17 crore and a lot of gold was seized. The total assets have been valued at over 32 crore. The identity of the complainant has been kept under wraps by the police.
It is learnt that the directorate of investigation of income tax department would be sending a requisition to the police to transfer the cash and valuables. As per the procedure, these assets would be kept in his personal deposit (PD) account. This is an account against the assessee’s PAN but held by the concerned principal chief income tax commissioner of the department.
An official said since the cash and other valuables were found at Sontu’s place, he will have to convince the taxmen about the source. The onus of proving the legitimacy of cash and assets is on the person from whose premises it is seized. If he is unable to prove the source of the assets, the money and gold would be deposited with the government exchequer.
The transfer should have happened soon after the seizure, but it has taken time considering the sensitivity of the case, said a source. According to the procedure, the investigation wing will submit an appraisal report and the case would go to the central circle of income tax for final assessment and recovery of tax dues.
CA Kailash Jogani said the handing over may not be a simple process. For the police, the cash is also part of evidence, which it may need for further investigations and court proceedings.
We also published the following articles recently
Sontu hiding details of Dubai visits, 12 a/cs: Cops
During the anticipatory bail hearing of Anant Jain alias Sontu Gondia, the investigation officer argued that the accused had traveled to Dubai multiple times, where the online gaming and gambling app was operated. The officer also mentioned that Sontu had given 12 bank accounts to a victim for transferring cash for gambling. The defense counsel criticized the police for not investigating the source of the complainant’s cash investment in gambling. The court will deliver a verdict on September 26.
During the anticipatory bail hearing of Anant Jain alias Sontu Gondia, the investigation officer argued that the accused had traveled to Dubai multiple times, where the online gaming and gambling app was operated. The officer also mentioned that Sontu had given 12 bank accounts to a victim for transferring cash for gambling. The defense counsel criticized the police for not investigating the source of the complainant’s cash investment in gambling. The court will deliver a verdict on September 26.
ED seizes cash, gold, receipts during survey
The Enforcement Directorate (ED) has conducted surveys at the residences and other premises of sand mining barons and government contractors in Tamil Nadu, resulting in the seizure of cash, gold, receipts, and counterfeit QR codes. The ED has frozen bank accounts worth 12.82 crore and seized unaccounted cash of 2.33 crore and gold weighing 1,024.6 grams. The surveys were carried out at 34 locations, including sand yards and the premises of businessmen and officials. Incriminating documents were found during the survey.
The Enforcement Directorate (ED) has conducted surveys at the residences and other premises of sand mining barons and government contractors in Tamil Nadu, resulting in the seizure of cash, gold, receipts, and counterfeit QR codes. The ED has frozen bank accounts worth 12.82 crore and seized unaccounted cash of 2.33 crore and gold weighing 1,024.6 grams. The surveys were carried out at 34 locations, including sand yards and the premises of businessmen and officials. Incriminating documents were found during the survey.
Burglars decamp with gold, cash
Burglars broke into a house in Vizianagaram district, stealing 240 grams of gold ornaments and 4 lakh in cash. The incident, which is suspected to be the work of local gangs, occurred on Sunday but was only discovered on Tuesday. The police have launched an investigation to identify the culprits. This follows a similar incident in Bobbili, where burglars stole 440 grams of gold ornaments and 13.5 lakh in cash. In other news, a man in Chennai was arrested for cheating a woman out of 26 lakh in cash and 25 sovereigns of gold, while the Enforcement Directorate seized cash, gold, and counterfeit QR codes during surveys in Tamil Nadu.
Burglars broke into a house in Vizianagaram district, stealing 240 grams of gold ornaments and 4 lakh in cash. The incident, which is suspected to be the work of local gangs, occurred on Sunday but was only discovered on Tuesday. The police have launched an investigation to identify the culprits. This follows a similar incident in Bobbili, where burglars stole 440 grams of gold ornaments and 13.5 lakh in cash. In other news, a man in Chennai was arrested for cheating a woman out of 26 lakh in cash and 25 sovereigns of gold, while the Enforcement Directorate seized cash, gold, and counterfeit QR codes during surveys in Tamil Nadu.
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