Three people have been arrested for allegedly committing VAT fraud and tax evasion by depositing huge sums of money into a fake account during demonetization, police said on Friday. The defendants were identified as Vijay Goyal (33), Jaideep (30) and Kamal Shorewala (48), all residents of Kaithal in Haryana, they said. According to the police, Pankaj Batra alleged that Daya Shankar obtained the TIN number from the VAT department in 2014 on behalf of M/s Jai Mahalaxmi Products by misusing the pan card and voter ID card belonging to him and had obtained a registration certificate for the registered chef. office located at Moti Nagar. Based on the registration certificate, the defendant opened a bank account in Kaithal in the name of M/s Jai Mahalaxmi Products, police said. The plaintiff learned of the facts when he received a notice from the Income Tax Department on February 2, 2017, where he was asked to provide explanations regarding the deposit of Rs 5,25,47,500 in the bank during the period of demonetization, a senior police officer mentioned. The government had announced the demonetization of old Rs 500 and Rs 1000 banknotes on November 8, 2016.
During the investigation, the VAT details of the alleged company were obtained and it was revealed that the company was registered in Moti Nagar and the details of the manager were Daya Shankar, a resident of Tagor Garden, the officer said. The investigation was carried out and no such business was found at the given address and no one called Daya Shankar was found residing at D-206 Raghubir Nagar, Tagor Garden, police said. “The alleged company’s account opening form was analyzed and it was found that Goyal and Jaideep were introducers in the fake account. Jaideep received check books from the bank. He also deposited and withdrew from money several times,” Commissioner of Police (EOW) said Chhaya Sharma said. Goyal was also the beneficiary of the company’s alleged fake bank account, police said. The two accused were arrested. They revealed that they were managing the fake company’s alleged bank account. At their instance, Shorewala was also arrested, police said.
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