Blackmoney case: Court summons bizman Vikram Dhirani as accused

New Delhi: A businessman has been summoned as an accused by a Delhi court in an alleged tax evasion case filed against him by the Income Tax Department. Additional Chief Metropolitan Magistrate Pritam Singh took cognizance of the IT department’s complaint and directed 59-year-old Vikram Dhirani, a South Delhi resident, to appear before it on March 8.

“Complainant has filed complaint for the offence under sections 276C(1), 277 and 276D of the IT Act for the Assessment Year 2007-08 with identical allegations against the accused.

“Perusal of complaint and materials available on record, prima facie discloses commission of offence under sections 276C(1), 277 and 276D of the IT Act for the relevant assessment years. Hence, cognizance of the offence is taken… Let accused be summoned for March 8,” the court said.

In the complaint, the department alleged that Dhirani, director of Karam Chand Rubber Industries Pvt Ltd and Karam Chand Chains Ltd, was holding an account in HSBC Bank in Dubai which was opened in April 2006, but had not disclosed it to the tax authorities here earlier.

It claimed that in July 2011, a search was conducted at Dhirani’s premises. He was questioned during which he admitted having a foreign bank account and that he had not disclosed it to the tax authorities, it alleged.

A notice was issued to him to furnish details of the foreign bank account but he willfully did not disclose it, the IT complaint alleged. It also alleged that Dhirani had Euros 19,15,148 (Rs 11.87 crore) in his foreign account in which he had not disclosed to Indian tax authorities and it was treated as undisclosed income for assessment year 2007-08.

The assessment was framed at a total income of Rs 13.21 crore and a penalty of Rs 4.14 crore was levied on him for willfully concealing the true income, the department alleged. “The accused by not disclosing his foreign bank account and by not declaring transactions made by him in the account, had willfully attempted to evade tax and concealed his true income and committed an offence under section 276(c)(1) of the IT Act,” it said.

It also booked him under sections 277 and 276 D of the IT Act alleging he had made a false statement in verification and not furnished details willfully respectively.

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