India launches tax evasion crackdown on perfume traders

Income Tax Department of India is conducting searches at the premises of perfume businessman and Samajwadi Party (SP) MLC Pushpraj Jain and one other perfume trader tax evasion.

Pushpraj Jain alias Pampi Jain is the Member of the Legislative Council (MLC) of Uttar Pradesh and is linked to Samajwadi Party. The searches are being conducted at around eight premises including Kanpur, Kannauj, Bombay, Surat and Tamil Nadu linked to two businessmen, according to Indian media reports.

Income tax sleuths started search operation on December 31.

Reportedly, the department has credible intelligence of tax evasion by the companies owned by Pushpraj Jain and the other businessman who is also a promoter of a perfume company.

Meanwhile, the Samajwadi Party hit out at the BJP and accused the ruling party of misusing central agencies in the run-up to the assembly polls.

After Kanpur-based businessman Peeyush Jain was sent to 14 days' judicial custody by a Kanpur court, his lawyer Sudhir Malviya on December 30 said that he will move the bail application as soon as the court reopens on January 1, 2022.

"The complaint that has been brought to us by the GST department, the recovery of Rs 177 crore is said to be shown. In their calculation of liability, the estimated liability is shown to be Rs 32.5 crore on us. And this is estimated. They say that the amount could increase in the future.

They have accused us of doing direct transactions without the use of invoices in the sales and purchase," Sudhir Malviya said.

(ANI)