Ahmedabad: Amid dramatic scenes at the ETV studio in Ahmedabad, Income Tax officers detained Mahesh Shah, the property dealer who had gone missing after declaring a whopping Rs 13,680 crore as income under a tax amnesty scheme.
Shah had gone missing since November 29 told ETV that he will inform the Income Tax department as to who owns the money but will need some more time to do the same.
"Yes I have declared this amount but the amount doesn't belong to me. Before I make any statement to the media I will provide all information to the IT department. The truth will come out soon. I committed a mistake. I wanted to earn some commission which is why I chose to convert the black money into white," Shah said.
Also read: Gujarat Property Dealer Who Declared Rs 13,680 Crore in Cash Goes Missing
Repeatedly requesting the TV anchors to keep his family and friends out of the issue, Shah said "My family is in no way associated with all this black money. Keep them out."
Shah also sought protection for his family.
As per provisions of the Income Declaration Scheme, the 67-year-old Shah was expected to make a payment of the first installment of Rs 1,560 crore (which is 25% of the 45% tax on income declared) by November 30. However, Shah failed to make the payment.
Shah, 67, originally hails from Ahmedabad but has business dealings in Mumbai and other cities of Maharashtra was untraceable even after multiple searches at his houses and business premises.
After the government announced the Income Declaration Scheme 2016, Shah approached Chartered Accountancy firm Apaji Amin’s partner Tehmul Shethna and inquired about the scheme. Shah has been known to the firm’s partners since 2013.
According to Shethna, Shah approached him and said that he wanted peace of mind and hence wanted to disclose all his income.
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