Income tax

Income Tax Department Opens Investigation Against Perfume Baron Piyush Jain, Files Statement in Jail

The Income Tax Department has launched an investigation against Kanpur-based perfume baron Piyush Jain. On Friday, officials recorded Jain’s statement at the jail where he is currently being held.

Piyush Jain was arrested in 2021 after authorities found 32 gold biscuits weighing 23kg in his house (Picture: File)

After the General Directorate of GST Intelligence and the Directorate of Tax Intelligence, it is now the Income Tax Department that has opened an investigation against Kanpur-based perfume baron Piyush Jain. Piyush Jain was arrested last year for tax evasion after a huge sum of cash and gold was recovered from his house.

On Friday, the Income Tax Department recorded his statement inside the prison where he is currently being held. He was interrogated for more than five hours by officials.

IT DEPARTMENT INVOLVEMENT

Special Prosecutor Ambreesh Tandon told India Today that a letter was sent by DGGI’s Ahmedabad Unit to the Income Tax Department asking them to investigate Piyush Jain. The income tax department then filed a petition with the court asking for permission to interrogate Piyush Jain inside the prison.

The court granted permission and Piyush Jain’s statement was filed by income tax department officials on Friday. The team entered the prison premises around 11 a.m. and left at 5 p.m.

THE CASE

In December 2021, the Ahmedabad unit of the Directorate General of Intelligence GST (DGGI) carried out a raid in Piyush Jain’s house in Kannauj and seizure of over Rs 195 crore in cash, 23 kilograms of gold and sandalwood oil worth Rs 6 crore. Of the 23 kg of gold, 11 kg had a foreign mark. The DGGI said the gold was smuggled from abroad.

He was arrested for tax evasion.