Trader booked for fake income tax credit claim

Tribune News Service

Hisar, October 24

The Sirsa police on Saturday booked a Sisra trader for fraud. The police said the trader, Rakesh Bansal of New Housing Board locality, was involved in fake claims of Input Tax Credit (ITC).

The Excise and Taxation Department had lodged a complaint to the police that during the assessment period 2011-12, the trader had fraudulently obtained a refund of Rs 23,24,377 by using false and fabricated documents which included sale invoices of cigarette regarding inter-state sale to Rajasthan.

The complainant stated that during the perusal of record, it was found that the accused had used forged documents of sale without making any actual movement of goods. Further, the then Assessing Authority while framing the reassessment held that there was no physical movement of goods and the papers had been prepared to obtain refund.