Kanpur-based businessman Piyush Jain has been arrested for tax evasion. Jain was booked under Section 69 of the Central Goods and Services Tax (CGST) Act.
Officials said Piyush Jaina was taken into custody by the GST Intellegence Unit in Kanpur on Sunday.
The Income Tax (IT) Department, along with CBIC and GST Intellegence, raided Piyush Jain’s premises in Kanpur, Kannauj and Mumbai on Thursday.
READ: Rs 150 crore cash seized in a raid for over 24 hours at the perfumer’s house in Kanpur
During the raid on his Kanpur residence, officials reportedly seized over Rs 150 billion in cash, as well as gold and silver, for a total recovery of nearly Rs 257 billion.
Officials familiar with the raid say the unrecorded cash stolen from Piyush Jain’s home was allegedly linked to a freight carrier shipping goods on counterfeit invoices and without electronic bills of lading.
Packages of seized banknotes found in Piyush Jain’s house in Kanpur | PTI
On Sunday, a five-person team from the IT department searched the headquarters of Piyush Jain in Kannauj.
Meanwhile, Uttar Pradesh CM Yogi Adityanath claimed at an election rally in Prayagraj on Sunday that Piyush Jain had ties to the Samajwadi party.
Kanpur Raid: Rs 150 crore container recovered by tax officials | CLOCK
“In the last two to three days there have been uninterrupted raids on the premises of an SP member. 257 billion rupees in cash and several kilograms of gold and silver have been seized,” said the Prime Minister.
During the raid on December 24, 2021, the police are guarding the residence of Piyush Jain in Kanpur | PTI
However, the SP has denied any links with Piyush Jain.
Manish Jagan Agarwal, the Samajwadi Party’s digital media coordinator, said in a tweet on Friday: “The raids on the home of Shikhar Pan Masala Group and perfume dealer Piyush Jain in Kanpur and the money recovered are a story of failure of demonetization. The BJP and the media defame SP by forcibly linking Piyush Jain and Shikhar Pan Masala to SP. Piyush Jain has nothing to do with SP MLC Pumpi Jain. “
“For a few days, income tax raids have been carried out on people connected to the SP. But the government and the authorities got nothing. The SP people came out clean. Therefore, a frustrated BJP immediately raided and captured cash and also hatched a conspiracy to link their propaganda to the SP and mislead people, “the SP official said in another tweet.
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