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Mahesh Shah, who went missing after disclosure of Rs 13,860 crore, detained by I-T department

Income Tax Officers Had Made Simultaneous Raids At Shah’s Residence In Ahmedabad, His Relative’s Houses And The Office Of His Chartered Accountant, Who Had Made The IDS Declaration On His Behalf.

News Nation Bureau | Edited By : Rahul Mishra | Updated on: 03 Dec 2016, 09:33:54 PM
I-T Dept officials detained Mahesh Shah (centre), who disclosed unaccounted income worth over Rs 13,000 crores (Pic courtesy: PTI)

New Delhi:

The Income Tax department on Saturday detained Mahesh Shah, the Ahmedabad-based businessman who had declared unaccounted income worth over Rs 13,000 crore under Income Declaration scheme.

Various raids were conducted by the Income Tax officers at Shah’s residence and offices. 

Shah’s CA Tehmul Sethna claimed that Shah had made a disclosure of Rs 13,860 crore of cash under the IDS scheme. 

As per sources, Shah needed to deposit Rs. 975 crores as tax.

Also Read: Ahmedabad businessman Mahesh Shah declares 13,860 crore black money, I-T deparment conducts raids

However, he forgot about it and thus the I-T department conducted its raids.

Earlier, shocking revelations had emerged disclosing that Shah was only a pawn in the hand of big shots like businessmen, politicians and government officers.

The IT department had noticed that that the black money declared by Shah belonged to many people and Shah received handsome commission for the disclosure.


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First Published : 03 Dec 2016, 09:08:00 PM