Missing Businessman From Gujarat Who Declared Rs 14,000 Crore Under IDS Arrested

A businessman from Gujrat, who went missing after disclosing unaccounted earnings of Rs 13,860 crore under the IDS Scheme got got arrested during tv interview.

Mahesh Shah, Gujrat, 13, 860 crore, Centre's Income Declaration Scheme, Arrested

A businessman from Ahmedabad, Gujrat, who went missing after disclosing unaccounted earnings of Rs 13,860 crore under the Centre's Income Declaration Scheme (IDS) got arrested during a television interview.

Mahesh Shah, 67, went missing after failing to pay the first instalment of tax on the declared money. He reappeared in public through a live television interview at the ETV Studios in Ahmedabad on Saturday, during which Income tax department and police personnel arrested him after getting hold of him during the interview.

During the interview, Shah claimed the money did not belong to him but to a group of powerful people, and also mentioned that he would reveal the names to the IT officials. Shah had gone missing ever since the IT department conducted searches at his residence and office in Ahmedabad on November 29 and 30.

On Friday, Tehmul Sethna, the Chartered Accountant who facilitated the declaration before IT officials, said he last spoke to his client on November 29.

Shah had visited the Income Tax office on the night of September 30. Reportedly, before his TV appearance, Shah’s CA had submitted the statutory Form No 2 for paying 25 pc of the taxable amount on his newly-declared amount under IDS on October 14 which was strangely accepted by the the IT department.

Explaining his disappearance till Saturday, Shah said he was in Mumbai when the IT searches were conducted and hence rushed to the TV studio to come clear in front of the public.

Watch his interview here.

Title image: timesofindia

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Vinam Pachkhede (WRITER)

Vinam Pachkhede is a history and psychology student. An amateur writer, she is currently associated with Reacho and contributes as a content writer. She is a great fan of stand-up comedy. Also a Foodie, Potterhead, Cumberbitch and Marathi Mulgi.