Billionaire businessman quizzed by IT for disclosure of Rs 13 thousand crore

04 December, Ahmedabad

The income tax department today disclosed that the controversial businessman Mahesh Shah who was questioned overnight over his “disclosure” of unaccounted cash of Rs 13,860 crore, has not revealed any name of the alleged black money holders.

The IT sleuths had taken charge of Mahesh Shah around 2230 hrs last night after he dramatically appeared before a TV channel from where he was temporarily detained by the police and later handed over to the IT. A spokesman of the IT department said he was questioned the entire night and was allowed to return home this morning under police protection. He has been summoned again to appear before the IT officers tomorrow morning.

Shah has been virtually kept under house arrest in his own flat in posh Satellite area of the city with police keeping a close watch on his movements and on those who might come to meet him or try to contact him. His neighbours were also questioned by the police if they knew any of his close contacts and had also been instructed not to talk to the media.

The IT spokesman told reporters that the entire proceedings involving Shah were being recorded but so far he had not disclosed any name whose black money he was supposed to be holding as claimed by him before the media yesterday. “So far we were only questioning him about the procedural matters and the issue of names of the actual persons is yet to come up,” the spokesman said. He also made it clear that no information given by Shah would be disclosed before the media and the entire proceedings would be sent to Delhi for higher authorities to decide.

The controversy also broke out following a photograph released in the social media showing Shah in police uniform. The police, however, later clarified that initially it was planned to take him out in police uniform so that no one could recognize him as he was likely to be a target of the black money sharks but after strong protest in the social media the idea was dropped and he was taken to the IT office only with police knickers.

Shah, who had declared an unaccounted income of Rs 13,860 crores on the last day of the voluntary Income Disclosure Scheme (IDS) on September 30 and disappeared before paying the first installment of the Rs 1,560 crores tax on the amount, had told the media persons yesterday that it was not his money but he had only become a “tool in the hands of some big fish.” He had promised to disclose before the IT department all the names, who he claimed included some politicians, businessmen and even senior government officials.