A grocery shop owner from Bulandshahr, Uttar Pradesh, has claimed that his Permanent Account Number (PAN) card was fraudulently used to create multiple fake companies, leading to a staggering Rs 141 crore tax demand notice from the Income Tax Department.
According to reports, the small shopkeeper was left stunned after receiving the notice, as his annual earnings are nowhere close to the massive transactions attributed to his PAN. The case came to light when authorities flagged large-scale financial dealings linked to his details.
The victim alleged that his PAN card was misused without his knowledge, and the fraudulent entities carried out high-value transactions under his identity. Following the notice, he has approached officials to clear his name and initiate an investigation into the matter.
Incidents of PAN misuse for creating shell firms and evading taxes have been rising in recent years, with fraudsters exploiting loopholes in documentation and verification systems. Experts suggest that tighter KYC norms and advanced tracking mechanisms are needed to curb such misuse.
The Income Tax Department is expected to investigate the matter further and verify the fraudulent transactions. Meanwhile, the shopkeeper continues to face mental stress and financial anxiety due to the massive tax liability falsely attributed to him.
This case highlights the urgent need for strengthened safeguards in PAN and GST registration processes, ensuring that ordinary citizens are not victimised by large-scale tax frauds.
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