The society board at Jubilee Court in Bandra, flat No 4 belongs to RR Vaid and not the Sayeeds.
Highlights
- The Sayeed family had declared an undisclosed income of Rs 2 lakh crore
- Abdul Sayeed said he did it on behalf of some "big names": Officials
- Legal advice taken as income disclosure made under immunity scheme
Could the Rs 2 lakh crore income declaration by Mumbai-based family have been a front for certain "big names"? Sources in the income tax department say they are inquiring into the possibility.
On September 20, Abdul Razzaque Sayeed and his family declared income worth Rs 2 lakh crore under the Income Disclosure scheme that provided immunity to anyone who declared hidden income by September 30.
But with the whopping amount setting the income tax department's alarm bells ringing, an inquiry proved the declaration false. Abdul Razzaque Mohammed Sayeed, his wife, son and sister were found to have limited means. During questioning, Mr Sayeed, he claimed he was doing it on behalf of certain "big names", officials said.
If Mr Sayeed's claims are found to be true, those connected with the case will be booked under the Benami transactions prohibition act, sources said. But the way forward is unclear, since the declaration was made under an immunity scheme. The Income tax department is now exploring its legal options, sources say.
An initial inquiry found the residential address mentioned by Abdul Sayeed, in Mumbai's Linking Road in Bandra, to be false. When NDTV visited the apartment listed in the declaration, it was found to be locked. Neighbours claimed it had been locked for over 6 years and no one had heard about the Sayeed family.
The other man who declared a huge income under the scheme - Ahmedabad-based businessman Mahesh Shah - is also under investigation. The man, who declared black money to the tune of 13860 crore, has claimed that the money belonged to many people, including politicians, bureaucrats and builders.