After the closure of old notes, Sanjeev Gupta collected 500 and 1000 rupee notes from many people and seeing the opportunity started converting these notes into new notes. But the matter came under the radar of the Income Tax Department.
There was heavy falsification of old notes
Everyone will remember PM Modi’s demonetisation address at 8 pm on November 8, 2016. On this day, PM addressed the nation and announced the closure of 500 and 1000 rupee notes. It has been more than 4 years since demonetisation. But a businessman was overwhelmed by the disposal of the notes that were closed in demonetisation. In this case, the Income Tax Department has now imposed a tax of Rs 42 crore on a businessman. Let us know what is the matter.
Actually, the matter is of Meerut district of Uttar Pradesh, according to a report published in Amar Ujala, a businessman from here, Sanjeev Gupta, tried to dispose of old notes worth Rs 25 crores by misappropriating notes during demonetisation. The Income Tax Department was investigating this matter. Now the Income Tax Department has imposed a tax of 42 crores on this businessman.
That’s how the whole game happened
Meerut businessman Sanjeev Gupta collected 500 and 1000 rupee notes from many people after the old notes were closed and seeing the opportunity started converting these notes into new notes. But the matter came under the radar of the Income Tax Department. This businessman had collected the entire old notes of 25 crores. But the matter was investigated and all these notes are still in the custody of the police. On the other hand the Income Tax Department action started. Now the Income Tax Department has imposed a tax of 42 crores on this businessman.
25 crore currency was recovered in 2018
According to the report of Amar Ujala, in the year 2018, the police had recovered the entire currency of 25 crores from the house of this businessman. After the investigation of this case, all this currency was confiscated and it was sent to the police custody. Even today all these notes are kept in Partapur police station. Taking action on these old notes of 25 crores, now the Income Tax Department has imposed a tax of 42 crores on this businessman.
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