The Income-Tax department is all set to initiate criminal proceedings against Mahesh Shah, the Ahmedabad-based property dealer who had declared Rs 13,860 crore under Income Declaration Scheme but later claimed that he made declaration under the influence of some ‘big fishes’ and money belonged to them.
The 67-year-old land broker has not yet given names of those ‘big fishes’ whose money he was to declare before the IT officials under IDS scheme. According to BD Gupta, Chief Commissioner of Income Tax, from the beginning the I-T department had doubt on his intentions and hence rejected his claims beforehand.
“We also did not include his declaration as part of the national IDS figures announced,” said Gupta.
Shah, a nondescript property dealer came to limelight after he declared an unaccounted income of Rs 13,860 crore under IDS. However, he disappeared without paying the first instalment of the Rs 1560 crore tax on the amount. He later reappeared before media and made a statement that the amount he disclosed did not belong to him but he was a tool in the hands of some big fishes who promised him a hefty “commission”.
The I-T officials on Thursday said that they would now initiate criminal proceedings against Mahesh Shah as well as his chartered accountant Taihmul Shethna for “false” declaration. “We have sent in a report to nodal authorities (Central Board of Direct Taxes) and now any further steps are out of our purview. However, we are going to initiate criminal proceedings against Shah and his chartered accountant under Indian Penal Code,” PC Modi, Director General, Investigation, IT, Gujarat, said.
The I-T officials in Gujarat also refused to divulge any details of findings from
Surat-based snacks-seller-turned-financier Kishore Bhajiyawala. “We cannot give you any figures as his are not the only case. We are flooded with several similar types of Bhajiyawalas and shall be able to share more details in January,” Modi added.