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Ahmedabad Businessman Who Declared ₹13,000 Crore Claims Money Belongs To Politicians, Builders

The 67-year-old was questioned for nearly seven hours before being let go on health grounds.

04/12/2016 3:10 PM IST | Updated 04/12/2016 5:28 PM IST
Rahul Singh/Twitter

Mahesh Shah, the Ahmedabad-based businessman, who had disappeared after declaring his unaccounted income of over ₹13,000 crore, told the Income Tax officials on Sunday that the money belonged to the politicians, bureaucrats and builders, and he was simply a front for the unaccounted money.

According to NDTV, the 67-year-old was questioned for nearly seven hours before being let go on health grounds. He has been asked to report again on Monday for further questioning.

The Times of India also reported, that the chartered accountant of Shah, Tehmul Sethna, resurfaced on Saturday and claimed that the businessman would reveal the name of the 'one big fish' whose money was a part of the ₹13,000 crore that he had disclosed.

Shah, a real-estate dealer, had come into the limelight when he disclosed his unaccounted income of over ₹13,000 crore under the Income Disclosure Scheme (IDS) in September. But, he forgot to pay tax on the disclosed amount by 30 November and then, reportedly went missing.

He later appeared on a local news channel on Sunday and claimed that the money was not his and had been given to him by politicians. In a dramatic turn of events, after appearing on TV, he was taken away and detained by the police and Income Tax officials from the TV studios to an undisclosed location for questioning.

As per the NDTV report, police personnel have been deployed at Shah's residence after he complained of his family being threatened.

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