I-T dept rejects disclosures of over ~2 lakh cr

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

Meanwhile, the government has revised the total illicit wealth disclosed in the onetime window to ~67,382 crore as against ~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 on Sunday. 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, TPS-III, Linking Road, Bandra (W), Mumbai, filed a total declaration of ~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 ~13,860 crore. “Therefore, after due consideration, the Income Tax Department decided by 30th November to reject these two sets of declarations of ~2 lakh crore and ~13,860 crore respectively. The Department has since commenced enquiries against these declarants to determine the intention behind these false declarations,” it added.

On October 1, it was announced that declarations totalling ~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 ~67,382 crore which had been made by 71,726 declarants.