Ahmedabad-based property dealer Mahesh Shah, who stunned the nation by declaring Rs 13,680 crore under the Income Declaration Scheme, was picked up by the Income Tax Department on Saturday night.
In a dramatic turn of events, Shah was picked up from the studio of a television channel when he was live on the show. Shah has been missing for the last several days and the IT Department had searched his house in Jodhpur area in the western part of Ahmedabad.
Before being picked up for questioning, Shah claimed before the channel that the money he declared was of various businessmen and politicians. He, however, didn't reveal their names, but said, “wait and watch”. He further said that he would reveal everything before the IT Department.
Shah claimed that he could not pay the first installment as the persons, whose money it was, backed out at the last moment. The first installment was around Rs 1,560 crore.
Requesting that his family should not be harassed in the case, Shah said in his career, neither he nor his family had done anything wrong.
Amid strong media presence, Shah was taken to the Sarkhej police station.
Tehmul Sethna, Shah's chartered accountant, has been quoted as saying that the businessman's declaration form was cancelled as the IT officers have reached a conclusion that he would be unable to pay the amount.
Sixty-seven-year-old Shah had shown his annual income as Rs 2-3 lac in the recently filed tax documents.
