DGGI refutes speculative media reports in connection with seizure of huge stash of cash from Kanpur-based businessman Peeyush Jain
Directorate General of GST Intelligence ((DGGI) today refuted speculative media reports in connection with seizure of huge stash of cash from Kanpur-based businessman Peeyush Jain. It has termed as purely speculative and without any basis, the media reports which claim that DGGI has decided to treat the cash recovered as the turnover of Jain’s company.
It also rejected the media reports that Jain, with the approval of DGGI, deposited a total amount of 52 crore rupees as tax dues. It clarified that the total amount of cash in the ongoing case from the residential and factory premises of Peeyush Jain has been kept as the case property in the safe custody of the State Bank of India. No deposit of tax dues has been made by the company from the seized money to discharge the tax liabilities and the tax liabilities are yet to be determined.
The DGGI added that the voluntary submissions made by Peeyush Jain are a subject matter of ongoing investigations and any view on the source of cash seized by the department and the exact tax liabilities involved in the investigation will be taken on the basis of appraisal of evidence and the outcome of further investigations.
The agency said, the speculative media reports seek to undermine the integrity of the ongoing investigations which are being carried out in a professional manner. Few days ago, over 197 crore rupees, 23 kilograms of gold and offending goods of high value were recovered from two premises of Jain. He was arrested on charges of tax evasion and is presently in judicial custody.