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DGGI denies reviews of UP businessman Piyush Jain having paid Rs 52 cr as tax legal responsibility from seized money

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LUCKNOW: Amid costs and counter-charges via the political events and the reviews over the seizure of enormous quantities of money stashed at the Kanpur and Kannuaj premises of businessman Piyush Jain all the way through the ultimate couple of days, the Directorate Normal of GST Intelligence (DGGI) issued a rationalization announcing that the entire sum of money within the ongoing case recovered was once stored as case belongings within the protected custody of the State Financial institution of India pending additional investigations and the industry had no longer made the fee of Rs 52 crore as penalty.

Previous, there have been reviews that the DGGI had regarded as Rs 177.45 crore recovered from the Kanpur premises of the businessman because the turnover of his income and had levied a penalty of Rs 52 crore on him for tax evasion. The reviews in sections of media had additionally claimed that the businessman had made the fee of R 52 crore as a penalty and now to safe a bail can be more uncomplicated for him.

These days, Jain is lodged in Kanpur district prison on a 14-day remand. He was once arrested below Phase 67 of the CGST Act on December 26 and was once despatched to prison via the courtroom below Phase 132 of the CGST Act. A case of tax evasion of over Rs 31 crore was once registered towards him.

Then again, clearing the air on Thursday over the restoration and likewise within the context of ongoing investigations into M/s Odochem Industries, Kannauj, owned via Jain, the DGGI’s free up stated {that a} overall money of Rs 197.49 crore, 23 kg of gold, and offending items of prime price have been recovered from two premises owned via Jain. 

“The reviews with reference to the DGGI deciding to regard the money recovered because the turnover of the producing unit and proposes to continue accordingly are purely speculative,” stated the discharge. It added that reviews had additionally wrongfully mentioned that once admitting his legal responsibility, Piyush Jain had, with the approval of DGGI, deposited a complete quantity of Rs 52 crore as tax dues.

“It’s made out as though the dep. has agreed with the deposition of Shri Piyush Jain and finalised the tax legal responsibility accordingly. Those reviews are purely speculative, with none foundation and search to undermine the integrity of the continued investigations that are being performed in a {most professional} method according to explicit intelligence towards the birthday celebration,” stated the discharge.

It additional stated that no deposit of tax dues was once made via M/s Odochem Industries from the seized cash to discharge their tax liabilities which have been but to be made up our minds. “Additional, the voluntary submissions made via Shri Piyush Jain are an issue of ongoing investigations and any view at the supply of money seized via the dep. and the precise tax liabilities of M/s Odochem Industries or different events concerned within the investigation can be taken at the foundation of appraisal of proof accumulated from quite a lot of premises all the way through the searches and the end result of additional investigations,” the discharge added.

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