Mahesh Shah, the Gujarati businessman who surrendered inside a television studio two weeks ago, kept a secret red diary containing names of people who tried to park their money with him, Income Tax sources have said.
I-T sources told CNN-News18 that the Rs 13,860 crore the property dealer had declared belonged to four-five other people and that he was trying to convert it under the Income Declaration Scheme 2016.
“Money was pledged to Shah from people in Ahmedabad, Vadodara, Mumbai, Nasik, Pune, and Vidarbha. He was also to receive a commission of 1% for declaring Rs 13,860 crore," an I-T source said.
Shah is believed to have told I-T officials that his diary contained the names of those who pledged him money.
“Mahesh could also have links with people involved in money laundering,” another source said.
Shah had disclosed Rs 13,860 crore under the IDS-2016 through his chartered accountant Tehmul Sethna on September 30, 2016, the last date for disclosure of unaccounted money under the scheme.
This was two days after IT officials conducted raids at 15 places in Gujarat and Maharashtra, including at places belonging to Shah and his CA Sethna.
Mahesh Shah, who had gone missing after having declared Rs 13,860 crore, resurfaced at Network18 studio in Ahmedabad where he claimed on air the money was not his and that it "belonged to a group of people, including politicians and businessmen.”
“The powerful people to whom this money belonged backed out at the last moment,” he had said.