Mumbai bizmen fined Rs 28 lakh after jewellery worth Rs 5 crore seized from them at Chandigarh airport
The Mumbai businessmen tried to fool the department officials by claiming they were carrying the jewellery for display at an exhibition at a local resort.punjab Updated: Dec 21, 2017 12:55 IST
The excise and taxation department have put a penalty of Rs 28.33 lakh on two Mumbai-based residents who were caught with unaccounted diamond jewellery worth Rs 5 crore at Chandigarh International Airport on December 16.
Manish Bandi, a resident of upscale Mumbai locality Santa Cruz, and Milan Chheda had landed here on Indigo’s afternoon flight from Delhi. The authorities seized three boxes of jewellery from them following a tip-off.
One box contained 74 diamond rings, another had 54 items including 24 necklaces and pairs of earrings and the third had 21 items, including jewellery sets.
The Mohali police had conducted the operation in co-ordination with the excise department.
HS Bal, in-charge of the airport police station, informed Shalin Walia, assistant excise and taxation commissioner, mobile wing, Chandigarh, about the jewellery being carried by the two and asked the official to verify it.
The Mumbai businessmen tried to fool the department officials by claiming they were carrying the jewellery for display at an exhibition at a local resort.
Police said the exhibition was organised by a Mumbai-based firm. However, the firm officials claimed the two were not participating in the exhibition.
On being further grilled, the two admitted that besides the memorandum, they were not carrying documents to establish the legitimacy of the jewellery as required under the Good and Services Tax Act.
The exhibition organisers have also been told to provide a list of all participants along with their opening and closing stock statements to check any other tax evasion.