Mahesh Shah, who went missing after disclosing Rs 13,000 crores, detained by I-T dept

IT Dept officials detained Mahesh Shah, who disclosed unaccounted income worth over Rs 13,000 crores under Income Declaration scheme.

The Income Tax department on Saturday detained Ahmedabad-based property dealer Mahesh Shah, who went went missing after disclosing unaccounted income worth over Rs 13,000 crores under Income Declaration scheme. Income Tax officers had made simultaneous raids at Shah’s residence in Ahmedabad, his relative’s houses and the office of his chartered accountants, who had made the IDS declaration on his behalf.

Shah’s CA Tehmul Sethna, who is a partner in Apaji Amin & Co, had informed the media about the searches carried out various places, including on the premises of those connected with his client (Mahesh Shahs friends).

In his statement to media, Sethna claimed Shah made a disclosure of Rs 13,860 crore of cash under the IDS scheme. The IDS scheme was closed on September 30.

“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.