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Jeweller sentenced to 2-yr imprisonment for hiding Swiss bank account

Swiss

Dehradun: The Chief Judicial Magistrate (CJM) Court of Dehradun on Monday sentenced two years of rigorous imprisonment to the owner of a famous jewellery showroom for hiding his Swiss Bank account from the Income Tax (IT) Department.

The court also slammed a fine of Rs 50,000 on Raju Verma, who owns a jewellery outlet on Rajpur road. The IT officials had detected that the man had Rs 92 lakh in his bank account, which he refused to disclose before the department. He was convicted under section 276 C (1) (Willful attempts to evade any tax) and section 277 (False statement in verification) of Income Tax Act 1961.

The man has been granted a month’s bail by the court for appealing in the higher court.

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