Mahesh Shah was to declare larger sum of Rs 13900 crore: CA Sethna

Ahmedabad: Even as the Income Tax department today claimed to soon initiate criminal prosecution against Ahmedabad based realtor Mahesh Shah and his CA Tehmul Sethna under the IPC in connection with ‘false declaration’ of Rs 13860 crore under the IDS, Sethna said that he was not aware whether the IT has authority to do so.

Terming the matter an ‘open and shut’ case, Sethna also claimed that Shah had initially offered to declare a bigger amount of Rs 13900 but later went on with Rs 13860 crore (all in cash).

Addressing a press conference here the CA said that he only discharged his role as advisor to Shah in this matter. It is my duty to give consultation to people. ‘I also cooperated fully with the IT in the investigation. Now if it wishes to initiate any legal action I am ready to face it,’ he said.

He also said that the IT department has itself rejected the declaration of Shah on November 28 and intimated about it.

Earlier terming Shah and Sethna ‘ a fraud of sorts’ a senior IT official during a press conference of the department today said that legal action under IPC will be initiated against the duo soon.

Notably, Shah who was nabbed from a news channel studio here on December 3 in a dramatic manner during his live interview was later set free by the IT sleuths. He had claimed during the interview that the money declared by him was of others who ditched him. He had claimed to divulge their names but did not do so.

The IT later set him free. It had also questioned Sethna and even conducted raids on his residence and office along with such raids against Shah.

DeshGujarat