Man Earning Rs 7000 Per Month Gets 'IT Notice' for Rs 134 Crores Transaction

Ravi Gupta, a 29-year-old Youth from Behind district of Madhya Pradesh was shocked to receive an Income-tax notice for the transaction of Rs 134 crores that was made in Mumbai in 2010-11. Ironically the monthly income for Ravi during 2010-11 was just Rs 7000 in a private company. Moreover, Ravi was working in Indore which contradicts IT notice that quotes Mumbai as the place of transaction.

Reportedly Rs 134 crores transaction was made using Ravi Gupta's PAN Card which was confirmed by the IT authorities. A startled Ravi began his own investigation which led to the accused Jeweller Mehul Choksi and his nephew Nirav Modi who are involved in Rs 12, 700-crore Punjab National Bank (PNB) fraud case. Both of them are in hideout according to the reports. It was also revealed that transaction made in the name of Ravi Guta was linked to the Gujarat-based diamond trading company.

“Now, the I-T department has threatened to attach my properties to recover the dues,” says Ravi Gupta as quoted by TOI. He further added, "I told them that I had nothing to do with the diamond company. The account had only my PAN card, that too with a forged signature. They should investigate how transactions of over Rs 100 crore were made from an account that didn’t have a local address"