AHMEDABAD: The Income Tax department on Saturday evening detained Ahmedabad-based property dealer Mahesh Shah, who went missing after revealing his unaccounted assets worth over Rs 13,860 crores under Centre’s Income Disclosure Scheme.
Mahesh Shah claimed that he had made the declaration at the direction of some powerful personalities in the desire for the commission.
“I was not running away anywhere but for some reasons I stayed away from media,” Mahesh Shah said.
“Those whose money was disclosed under IDS backed out at the last moment so I could not pay the first installment of tax,” he said, and claimed, “I will expose everything soon. Those whose money was disclosed are businessmen and politicians.”
He also said: “I have committed a mistake but I will reveal everything very soon. The truth will prevail in the entire matter.”
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Income Tax officials made contemporary raids at Shah’s house in Ahmedabad, his relative’s homes and the office of his chartered accountants, who had made the IDS declaration on his behalf.
Shah’s CA Tehmul Sethna told the media about the investigation conducted at various places.
In his statement, Sethna alleged that Shah made a declaration of Rs 13,860 crore of cash under the IDS scheme. The IDS scheme was ended on September 30.
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“Shah was in my touch since 2013 and took our advice on several occasions in the past. He was not my regular client. He was mainly into land dealings. When IDS scheme was declared, I advised him to make the disclosure for peace of mind, as he is almost 67-year-old and is not keeping well due to some heart-related ailments,” said Sethna.