Just two days back, a businessman from Gujarat, Mahesh Shah disclosed around 13,860 crores Black Money under centre’s income disclosure scheme. After the declaration, the man went missing and his CA had to address the press conference to confirm news of his black money disclosure.

But on Saturday, the businessman appeared on a TV channel and confessed that he made the disclosure at the behest of some people in the greed for commission.

He also said that he will disclose the names of all people who asked him to do so to the IT officials.

He said, he had no intentions of running anywhere but for some reasons he stayed away from the media. All the money which was disclosed belongs to many politicians and businessman and “I will reveal everything very soon” he added. He also claimed that he could not pay the first installment of tax, as those people whose money was disclosed through Income Declaration Scheme backed out at the last moment.

“I have committed a grave mistake, but I will reveal the names of people behind it, let truth prevail” he added.

The Income tax department officers carried out searches in his office, house and also questioned his Charted Accountant. Shah had declared his income on 30th September, the last for disclosure under the IDS. The first tax of 1,560 crore, 25% of the 45% tax imposed was to be paid on November 30th. But Shah failed to do so and interestingly his declaration form was also cancelled by the IT department on November 28th.


Aishwarya S