The Income Tax Department has decided to re-assess the income tax returns of more than 50 people who have bought jewellery from Neerav Modi. Sources said that these are people who bought expensive ornaments from the firm of Neerav Modi. The Income Tax Department has taken this step because when many people were asked to send a notice and tell them the sources of income, they refused to pay any kind of cash in return for the purchase of the firm of Nirav. Officials said that the collected documents show that people who buy jewellery have done the payment in many parts. Some part of this is through check or debit/credit card, while the rest is paid in cash.
In response to the Income Tax Department's notice, most people said that they have not paid cash, but the documents collected by the Income Tax Department and the sales document of the company of Nirav Modi opened their pole. Therefore, the Income Tax Department is now reassessing the income tax return of more than 50 people. It is being done since the assessment year 2014-16.
Revenue Vigilance Agency DRI has sent a warrant for the arrest of fugitive diamond trader Neerav Modi by e-mail in a case of customs theft. Officials gave this information. He said that this warrant has been issued if he is not present in the court of Surat strict action will be taken. In March, the revenue intelligence directorate (DRI) had initiated a penal action against Neerav Modi and his three companies. This action was initiated by the companies located in their special economic zone for the use of duty-free imported goods, apart from the rules elsewhere.