{"id":170313,"date":"2025-04-04T04:18:04","date_gmt":"2025-04-04T04:18:04","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/3-businessmen-sentenced-to-imprisonment-of-1-year-for-tax-evasion\/"},"modified":"2025-04-04T04:18:04","modified_gmt":"2025-04-04T04:18:04","slug":"3-businessmen-sentenced-to-imprisonment-of-1-year-for-tax-evasion","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=170313","title":{"rendered":"3 Businessmen sentenced to Imprisonment of 1 Year for Tax Evasion"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><strong>3 Businessmen sentenced to Imprisonment of 1 Year for Tax Evasion<\/strong><\/p>\n<p>The Special Court for Economic Offences in Hyderabad on Thursday,\u00a0found three businessmen guilty and sentenced them\u00a0to one year in imprisonment for tax evasion\u00a0under the Income Tax Act. The court also\u00a0imposed a fine of Rs.50,000 on each accused.<\/p>\n<p>The accused were identified as Kolan Jaipal Reddy, a real estate businessman, Gummi Narender Reddy, and Desaram Krishna. The case involves the purchase of four acres of agricultural land in Pedda Amberpet village, Hayathnagar, in August 2015.<\/p>\n<p>Jaipal Reddy and Narender Reddy purchased the land from vendors Desaram Krishna and others for Rs.88 lakh in cash. The investigation revealed that Jaipal Reddy concealed his Rs.44 lakh portion of the transaction, resulting in tax evasion.<\/p>\n<p>\u201cEven with such low turnover and income from all his sources, the assessee has managed to purchase agricultural land with a total payment of Rs.44,00,000 in cash during FY 2015-16, which indicates that the assessee has not disclosed his true income to the department,\u201d the judge\u2019s ruling said.<\/p>\n<p>A thorough investigation resulted in the conviction of the accused in a deliberate attempt to avoid tax.<\/p>\n<\/div>\n<div style=\"background: #000; \">\n<p>Join StudyCafe Membership. For More details about Membership Click Join Membership Button<\/p>\n<p><a class=\"side-submit-btn\" href=\"https:\/\/studycafe.in\/plans\/\" title=\"Join Membership\">Join Membership<\/a><\/p>\n<p class=\"white\">In case of any Doubt regarding Membership you can mail us at <a class=\"lwhite\" href=\"http:\/\/studycafe.in\/cdn-cgi\/l\/email-protection#2a4945445e4b495e6a595e5f4e53494b4c4f044344\" title=\"Send your articles at contact@studycafe.in\"><span class=\"__cf_email__\" data-cfemail=\"72111d1c0613110632010607160b111314175c1b1c\">[email\u00a0protected]<\/span><\/a><\/p>\n<\/div>\n<div>\n<p>Join Studycafe&#8217;s WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!&#8221;<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>3 Businessmen sentenced to Imprisonment of 1 Year for Tax Evasion The Special Court for Economic Offences in Hyderabad on Thursday,\u00a0found three businessmen guilty and sentenced them\u00a0to one year in imprisonment for tax evasion\u00a0under the Income Tax Act. The court also\u00a0imposed a fine of Rs.50,000 on each accused. The accused were identified as Kolan Jaipal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":170314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11759],"tags":[68248,68249,68250,68247,68251,68244,68245,68246,29546,68243,1820,32242,68242,7356,21915,629],"dealstore":[],"offerexpiration":[],"class_list":["post-170313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","tag-3-businessmen-sentenced-to-imprisonment-of-1-year","tag-3-businessmen-sentenced-to-imprisonment-of-1-year-for-tax-evasion","tag-businessmen","tag-businessmen-sentenced-to-imprisonment","tag-evasion","tag-imprisonment","tag-imprisonment-in-tax-evasion-case","tag-imprisonment-of-1-year-for-tax-evasion","tag-income-tax","tag-income-tax-evasion","tag-news","tag-sentenced","tag-special-court-for-economic-offences","tag-tax","tag-tax-evasion","tag-year"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 Businessmen sentenced to Imprisonment of 1 Year for Tax Evasion - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=170313\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Businessmen sentenced to Imprisonment of 1 Year for Tax Evasion - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"3 Businessmen sentenced to Imprisonment of 1 Year for Tax Evasion The Special Court for Economic Offences in Hyderabad on Thursday,\u00a0found three businessmen guilty and sentenced them\u00a0to one year in imprisonment for tax evasion\u00a0under the Income Tax Act. 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