The Delhi High Court has dismissed the Writ Petition filed by the meat exporter Moin Qureshi against a 2017 order of the Income Tax Settlement Commission (ITSC) which invalidated his tax settlement application as he had failed to make full and true disclosure of his income.
A division bench comprising of Justice Chander Shekhar and Justice Sanjiv Khanna observed that that it is not a fit case to be allowed to be proceeded with as the applicant has not made a full and true disclosure of all the material facts in absence of which it would not be possible for us to determine the income of the applicant. We, therefore, hold the settlement application filed by Sh. Moin Akhtar Qureshi as invalid‘ u/s 245D(2C).
Qureshi in his appeal against the Commission’s order said that it completely disregards and was contrary to the High Court’s April 13, 2017 decision which said that there was no failure on his part to make full and true disclosure as far as bank accounts were concerned.
Qureshi claimed that he was not a shareholder of the two companies and, therefore, he had no interest in the companies. He had said that his brother-in-law Yusuf Mehboob Khan, citizen of Pakistan, was the beneficial owner of the property in London.
The bench found that, the ITSC on the basis of the Know Your Customer information and details obtained from the Singapore government under the Double Taxation Avoidance Agreement had found that Qureshi had authorized the board of directors of Bulova Holdings Limited to purchase the London property in 2012.
While rejecting the Writ Petition, the division bench also observed that, “It was also recorded that the petitioner had failed to adduce specific and clear evidence to show that he was not the beneficial owner of M/s Barro Holdings Limited etc. and the accounts and the London property were owned by his brother-in-law”.
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