I-T department `names and shames' 18 owing Rs1,150 cr in third defaulter list

The Income Tax department on Wednesday made public a third list of 18 tax defaulters, including gold and diamond traders whose dues totalled around Rs1,150 crore, extending its 'name and shame' campaign.

The latest list of defaulters published by the I-T department contains the names of 18 defaulters who have either gone untraceable or have inadequate assets to pay.

The list, compiled by the department, has been released by the finance ministry in leading national newspapers carrying names of the defaulting individuals or entities, their last known addresses, PAN numbers, amount of arrears, last known source of income and the assessment years for which they have not paid their due taxes.

The latest list names one Mumbai-based Uday M Acharya (late) and his legal heirs Amul Acharya and Bhavana Acharya, who together owe a whopping Rs779.04 crore default of income/corporate tax.

A number of defaulters whose names have been put in the public domain today, under the 'naming and shaming' policy, have their last source of income shown from the trade of jewellery, diamonds and gold.

"The total tax default by these 18 defaulters under the personal Income Tax and corporate tax category is Rs1,152.52 crore. This is the third list put in public domain by the IT department," a senior official said.

The department, in the notice, has asked these "defaulters" to pay their tax arrears "immediately" and at the same time asked public to inform it if they have any knowledge of these people.

Others figuring in the latest list include Ahmedabad-based Jag Heet Exporters Pvt Ltd (Rs18.45 crore), Jashubhai Jewellers (Rs32.13 crore), Kalyan Jewels Pvt Ltd (Rs16.77 crore), Liverpool Retail India Limited (Rs32.16 crore), Dharnendra Overseas Ltd (Rs19.87 crore) and Praful M Akhani (Rs29.11 crore).
Hyderabad based Nexxoft Infotel Ltd owes Rs68.21 crore in default while Bhopal-based Great Metals Products Pvt Ltd owe Rs13.01 to the I-T department in arrears and as unpaid taxes, the notice said.

The i-T Department had, in two separate lists released earlier, named 49 defaulters with total tax liability of over Rs2,000 crore.