THE Income Tax Department
is inquiring into the land
acquisitions, bank accounts
and financial dealings of a
company owned by the sons of
former chief justice of India Y
K Sabharwal, Pawan Impex
Private Limited.
Pawan Impex, owned by
Chetan and Nitin Sabharwal,
has been served a notice
under Section 142(1) of the
Income Tax Act. The notice
(dated May 28, 2007) is
accompanied by a questionnaire
aimed among other
things at getting detailed
information about the land
dealings of the Sabharwals
with the NOIDA Authority,
with payment details. As
reported by MiD DAY in a
series of exposes over the last
few weeks, the company owns
sprawling properties in
NOIDA, including an underconstruction
I-T Park on four
acres of land in Sector 125,
and a factory in Sector 8.
Another company owned by
Nitin and Chetan , SABS
Exports, is also spread over
two huge plots of land in
Sector 63.
THE I-T QUESTIONNAIRE, A COPY OF WHICH IS AVAILABLE WITH
MID DAY, HAS ASKED PAWAN IMPEX FOR THE FOLLOWING:
1. A brief note on the business activities alongwith complete details of all the premises owned
and taken on rent.
2. Comparative chart of trading of preceding three years with GP rate.
3. Details of all bank accounts along with bank reconciliation statement, if required. Statement
of all the bank accounts with the narration of all the debit and credit above Rs 20,000.
4. Details of all the directors. Provide their name, address, PAN, Ward where they are being
assessed. What is their source of income? Copy of acknowledgment of filing of return of
income AY -2004-05 onwards.
5. Details of unsecured loans with the name address and amount, confirmed copy of a/c
alongwith copy of bank statement, income tax return copy.
6. Details of addition made to the fixed assest with the source of acquisition.
7. Details of sundry debtors and creditors with their names and address PAN and amount.
8. Details of project work in progress (with documentary evidences).
9. Details of land acquired from Noida authority with payment details and copy of agreement,
if any.
10. Details of squared up accounts.
MID DAY, HAS ASKED PAWAN IMPEX FOR THE FOLLOWING:
1. A brief note on the business activities alongwith complete details of all the premises owned
and taken on rent.
2. Comparative chart of trading of preceding three years with GP rate.
3. Details of all bank accounts along with bank reconciliation statement, if required. Statement
of all the bank accounts with the narration of all the debit and credit above Rs 20,000.
4. Details of all the directors. Provide their name, address, PAN, Ward where they are being
assessed. What is their source of income? Copy of acknowledgment of filing of return of
income AY -2004-05 onwards.
5. Details of unsecured loans with the name address and amount, confirmed copy of a/c
alongwith copy of bank statement, income tax return copy.
6. Details of addition made to the fixed assest with the source of acquisition.
7. Details of sundry debtors and creditors with their names and address PAN and amount.
8. Details of project work in progress (with documentary evidences).
9. Details of land acquired from Noida authority with payment details and copy of agreement,
if any.
10. Details of squared up accounts.
Dear Sir,
ReplyDeleteI have a question- what is the current status of this case? Is the matter still sub-judice?