From,

Mahesh R. Thakkar,
1201 / 1202, Antariksha,
12th Floor, Murar Road,
Mulund (West),
Mumbai 400 080.
PAN: AAAPT5735F

Date : 26.11.2009

To,
The Asstt. Commissioner of Income Tax
Central Circle 17 & 28
401, Aayakar Bhawan
M.K. Road
Mumbai-400 020.

Respected Madam,

Sub: Assessment proceedings for A.Y. 2008-09 – Jewelleries.

During the course of search in June, 2007 gold jewelleries. Silver jewelleries and
diamond jewelleries were found from my residence at Antariksha Tower, Mulund at
Locker No.144 of Maharashtra co.op. Bank Ltd., at locker No.484 of Central Bank Of
India, Locker No. 390 of Dena Bank and at Locker No. 55 of Corporation Bank.

GOLD JEWELLERIES :
As regards to gold jewellery total jewellery of 2802 grams was found as per the valuation
reports of Income tax department appointed valuers as under :

LOCKER BANK Name Gold

NO. (Gms)
144 Maharashtra Co.Op. Bank, Mahesh R. Thakker & Anjani M. Thakker 630.700
Mulund
484 Central Bank Of India, Mahesh R. Thakker & Anjani M. Thakker 373.400
Mulund
390 Dena Bank, Mulund Mahesh R. Thakker & Anjani M. Thakker 1178.100
55 Corporation Bank, Mulund Mahesh R. Thakker & Anjani M. Thakker 332.700
Jewellery at Residence 287.500
Total 2802.400

The same belong to me, my wife Mrs. Anjani M. Thakker and my daughter Perina M.
Thakker. While as per the valuation report of our approved valuer mr. Mahendra Zaveri,
we hold jewelleries as under :

Name Gold jewelleries (Gms)

Anjani M Thakker 2702.90
Mahesh R Thakker (item No.93) 56.00
Perina M. Thakker 33.00
 Total 2791.90

These jewelleries are shown in the wealth tax returns filed by me and my wife Mrs.
Anjani M. Thakker.
 - 2 -

Thus, there is difference of 10 grams only. Therefore, after due verification by the
search party, the entire gold jewellery was released.

SILVER JEWELLERIES :
With regard to silver jewelleries, 10.700 kgs. silver utensils/toys were found during the
search whereas as per valuation report of Shri Mahendra Zaveri for Smt. Anjani M.
Thakker 10.500 kgs. is shown. The balance difference of 0.200 grams of silver articles /
toys belong to my daughter Perina M. Thakker (Mrs. Perina A. Sheth). As the physical
verification report was tallied with valuation report of Shri Mahendra Zaveri, entire
jewelleries were released.

DIAMOND JEWELLERIES :
As regard diamond jewelleries found by search party, the same belongs to me. It was
tallied itemwise with valuation report of my approved valuer Mr. Mahendra Zaveri.

I am enclosing herewith five reconciliation statements for (1) Locker No.484 (2) Locker
No. 390 (3) Locker No. 55 (4) Locker No.144 of Maharashtra Co.op. bank, and (5) at
residence giving details of Sr. No., description, amount, as per the department appointed
valuer against the item number of my valuer Mr. Mahendra Zaveri.

Thus the difference in diamond jewellery of Rs.3,09,547/- and one loose packet of
diamond valuing Rs.7,52,000/- which was found from the locker No.494 of Shri Gulab
Thakker (Ruparel) with The Bharat Co.Op. Bank (Mumbai) Ltd., the total amount comes
to Rs.10,61,547/-. I am enclosing herewith a summerised statement giving the items not
tallied valuing Rs.10,61,547/-. Against which I have already given disclosure of
Rs.11,00,000/- for A.Y. 2007-08 and paid tax for the same. Therefore, the entire
diamond jewellery was released by the search party.

Thanking you,

Yours faithfully,

(MAHESH R. THAKKER)