I-T to re-assess ITRs of 50 buyers of Nirav Modi jewellery
The Income Tax Department has decided to reassess the ITRs of over 50 high net-worth individuals (HNIs) who purchased costly jewellery from Nirav Modi's firms, according to reports. This comes after the department sent notices to these HNIs asking them to explain source of income for purchase of the jewellery but they denied making any cash payments to Nirav's firms.