New Delhi, Dec 5, 2016: The Income Tax department on Sunday has rejected two high-value declarations, one of Rs 13,680 by an Ahmedabad Businessman Mahesh Shah and another of Rs 2 lakh crore by Mumbai family in Bandra after the finance ministry declared it ‘suspicious in nature.’
The ministry, however, launched a probe against them to determine the intention behind their false claims.
“Among the declarations received, there were two sets of declarations of high value which were not taken on record in the above figure because these declarations were found to be suspicious in nature being filed by persons of small means,” the finance ministry said in a statement.
Abdul Razzaque Mohammed Sayed, Mohammed Aarif Abdul Razzaque Sayed, Rukhsana Abdul Razzaque Sayed and Noorjahan Mohammed Sayed claim to be residents of Jubilee Court in Bandra (West) and three of them had obtained PAN cards from Ajmer which were migrated to Mumbai in September.
The declaration of Sayeed’s was nearly three times the total amount of Rs. 65,250 crore declared under the Income Disclosure Scheme, formed to flush out black money. The tax department said it was probing the false declaration.
The government also said that the I-T department had rejected Ahmedabad-based Mahesh Shah‘s declaration of Rs 13,860 crore. Shah had gone missing after making the declaration, only to surface on Saturday.
On questioning, he claimed he had made the disclosure on behalf of certain politicians and bureaucrats.
Check out the press release by Finance Ministry: