Nagpur Latest News
Trending

No politician’s money found in Income Tax raids from my house: Pyare Khan

In a major operation, tax officials also raided nine businessmen, including the promoter of a private limited company with stakes in various sectors.

Nagpur: The Income Tax department has seized absolutely no assets from my premises during the raids it conducted last week, said Pyare Khan, a logistics baron who was covered along with eight other assessees.

In a major operation, tax officials also raided nine businessmen, including the promoter of a private limited company with stakes in various sectors.

Speaking to TOI, Pyare Khan said that the tax officials did not find any unexplained assets in his firms at all. The documents of three companies of his group have been examined. Out of a turnover of about ₹404 crores, in ₹94 core two, the mismatch between cash balances and accounting entries noticed by the taxpayers was ₹1,800 and ₹2,200. In the third company, the entire cash on hand could be linked to the accounts. The explanation for the mismatch of around ₹1,800 and ₹2,200 would be furnished in 4 to 5 days. He said it must be because of the delay in accounting.

Pyare Khan said, “The Income Tax Department has only taken a demand draft of ₹13 lakh, which is refundable in 3 months.”

This is the first time in recent times in the city that such a statement has been filed by an assessee after an Income Tax raid. Pyare Khan told TOI that he was relieved that the Income Tax officials while searching his premises, had acted in a very professional manner.

“Even I cooperated with them and the raids have been called off,” he added.

Pyare Khan’s Rank to the Rich story

Last week itself, the office of the Director of Investigation (Income Tax) in Mumbai raided premises belonging to various businessmen. It also included a business conglomerate with holdings in various businesses ranging from IT, commodity trading to the stock market.

The promoters of the company were also involved in the dabba trading case being probed by the police. Sources have also told this that Income Tax action is going on in other places.

Pyare Khan said he was relieved from the Income Tax action. “There were rumors that my business runs on money planted by politicians and other businessmen. Rather, I have the money provided by the banks in the form of a valid loan,” They said.

Pyare Khan’s Rank to the Rich story. In the year 2001, he started as an autorickshaw driver and ended up owning a fleet of trucks.

He said, ‘My source of rapid growth has been questioned, for which I also showed all the documents.’

Also Read: Due to poor occupancy Bilaspur-Nagpur Vande Bharat Express replaced by Tejas Express

Related Articles

Leave a Reply

Back to top button