I-T dept rejects declarations of Rs 2 lakh cr, Rs 13,860 cr; probe on

New Delhi, December 4

The Income Tax department has rejected an astonishing Rs 2 lakh crore disclosure by a Mumbai family as well as the controversial Rs 13,860 crore by an Ahmedabad businessman under the Income Disclosure Scheme that closed in September and a probe is on against them to determine the intention behind their false claims.

It was found that declarants were “persons of suspicious nature” and “very small means” and the declarations could have been misused.

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These declarations were kept pending for investigation about the genuineness of the same and were not included in the total value of declarations announced on October1, said a statement issued by the Department of Revenue Central Board of Direct Taxes, Union Ministry of Finance.

“It was announced that declarations totalling Rs 65,250 crore were received from 64,275 declarants, subject to reconciliation. After final reconciliation, the revised figure of actual declarations received and taken on record was Rs 67,382 crore, which had been made by 71,726 declarants,” said the statement.

Among the declarations received, there were two sets of declarations of high value, which were not taken on record in the above figure because they were found to be suspicious in nature being filed by persons of small means.

A family of four declarants — Abdul Razzaque Mohammed Sayed (self), Mohammed Aarif Abdul Razzaque Sayed (son), Rukhsana Abdul Razzaque Sayed (wife) and Noorjahan Mohammed Sayed (sister) — all residents Linking Road, Bandra (W), Mumbai, had filed a total declaration of Rs. 2 lakh crore.

Three out of the four PAN numbers were originally in Ajmer, which were migrated to Mumbai in September, where the declarations were filed.

The other declaration was filed by one Mahesh Kumar Champaklal Shah, a resident Jodhpur Gram Satellite, Ahmedabad, for an amount of Rs 13,860 crore.

The department has commenced inquiries against these declarants to determine the intention behind these false declarations, the statement added.

The declarations were made under an Income Declaration Scheme (IDS), which was announced in the budget under which declaration of undisclosed income or asset could be made by agreeing to pay 45 percent of the declared amount as tax, surcharge and penalty. The scheme closed on September 30.

Meanwhile, Mahesh Shah who had claimed that he was used as a front to declare Rs 13,860 crore under the Income Declaration Scheme (IDS) was allowed to go home this morning after night-long interrogation by senior I-T personnel.

Officials said the process of recording his statement is likely to continue tomorrow even as city police deployed two guards outside his residence apprehending security threat. — Agencies