The Income Tax department has rejected Rs 13,860 crore of declaration made by Gujarat based businessman Mahesh Shah under Income Declaration Scheme (IDS), informed Ministry of Finance on Sunday.
Shah was detained by the I-T officials from the from the sets of a TV news channel on Saturday, and he had claimed that the money that he declared under IDS belongs to politicians and bureaucrats and more information will be disclosed soon.
In addition, other set of declaration of Rs 2,00,000 crore made under IDS by a family o four from Mumbai was also rejected.
Meanwhile, the government has revised upwards the total illicit wealth disclosed in the one-time window to Rs 67,382 crore as against Rs 65,250 crore estimated earlier.
“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 today.
A family of four declarants namely, Abdul Razzaque Mohammed Sayed (self), Mohammed Aarif Abdul Razzaque Sayed (son), Rukhsana Abdul Razzaque Sayed (wife) and Noorjahan Mohammed Sayed (sister), who were shown as residents of Flat no. 4, Ground Floor, Jubilee Court, 269-B, T.P.S-III, Linking Road, Bandra (W), Mumbai, filed a total declaration of Rs 2 lakh crore, it said.
The other declaration was filed by one Mahesh Kumar Champaklal Shah resident of 206, MangalJyot Tower, Jodhpur Gram Satellite, Ahmedabad for Rs 13,860 crore.
“Therefore, after due consideration, the Income Tax Department decided by 30th November, 2016, to reject these two sets of declarations of Rs 2 lakh crore and Rs 13,860 crore respectively. The Department has since commenced enquiries against these declarants to determine the intention behind these false declarations,” it added.
As per the report, the I-T department suspects these declarations since the people involved are of very small means.
This amount declared under IDS was not included in the total value announced on October 1.