Tuesday , November 21 2017

Income-Tax department notices to 8 Hyderabad’s petrol bunks.

It was supposed that petrol dealers deposited cash into petroleum cards and collected money in advance and recovered old payments.

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Consortium of Petroleum Suppliers joint secretary Rajiv Amaram said that he along with a few other petrol traders in Hyderabad had received notices seeking explanation of huge sales.

Hyderabad: Income-Tax department officers have served notices on at least eight petrol pump suppliers in the city over huge cash deposits of demonetized notes after November 8.

It was alleged that petrol dealers put cash into fuel cards and collected cash in advance and recovered old dues. Consortium of Petroleum Suppliers joint secretary Rajiv Amaram said that he along with a few other petrol traders in Hyderabad had received notices seeking reason of huge sales.

He said, “They have pointed out that regularly my sales would be around `20 lakh and after demonetisation it was Rs 40 lakh. I described that my bunk is an ‘extra power’ center and can deposit cash in fuel cards.”

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Local officers may have given notice: I-T

Consortium of Petroleum Suppliers joint secretary Rajiv Amaram supposed, “‘Extra power’ centres are authorized to deposit in fuel cards. There are only dual extra power centres in the urban. The other is in Autonagar. There is no question of change of black money into white. Everything is accounted for. We had increased sales on these days as publics came in large numbers.”

I-T sources said jurisdictional majors may have given notices to petrol pump dealers in the wake of reports that vast cash of Rs 500 and Rs 1,000 were put on November 8 and later.

I-T officers swung into action next rumors that fleet cards and other type of petrol cards were used to stash money by educational institutes, transport operators and others.

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