Abdul Razzaque Mohammed Sayed, head of the Mumbai-based family which disclosed Rs 2 lakh crore under the Income Declaration Scheme or IDS 2016 has gone missing, according to sources familiar to the development.
Sayed and his family is being investigated by the tax department after it found that the Rs 2 lakh crore declaration made by the family of four was found to be suspicious in nature as the Sayed’s are known to be persons of limited means.
“He (Sayed) is currently on the run. In the past he has presented himself before the I-T department for questioning but since the government rejected the false declaration made by his family, he is neither presented himself before the I-T department nor answered any phone calls,” said a source. Revenue Secretary Hasmukh Adhia, however, said the I-T department is trying to locate Sayed and the case will be taken to its logical conclusion. Adhia said both the Sayed family and Mahesh Shah whose declaration of Rs 13,680 crore has also been rejected by the government will be tried under the relevant sections of the Indian Penal Code (IPC). “It has become an IPC offence. They (Sayed and Shah) have given the declaration on oath with their signature. They have tried to cheat the government,” said Adhia.
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The Sayed family was shown as residents of Bandra, Mumbai. Three out of the four PAN numbers were originally in Ajmer which were migrated to Mumbai in September 2016, where the declarations were filed. The Bandra address quoted by the Sayed family has allegedly remained unoccupied for over seven years. On December 4, the government said that it has rejected declarations of Sayed and Shah worth Rs 2.13 lakh crore and launched enquiries against these declarants to determine the intention behind these false declarations.
“These declarations from Mumbai and Ahmedabad were kept pending for investigation about the genuineness of the same and were not included in the total value of declarations announced on 1st October, 2016 and. After due enquiry, it was found that these declarants were persons of suspicious nature and very small means and the declarations could have been misused,” said the government. The Ahmedabad wing of the tax department questioned Shah for over five hours on December 5, in connection with the declaration made by him. Shah, according to sources has sought three days’ time on the ground of his wife’s illness to come up with evidence to show his claim.
Meanwhile, the department has also revised the actual declarations received to Rs 67,382 crore (estimated at Rs 65,250 crore earlier) from 71,726 declarants.