Prats is correct Mansi.... you have not considered the cases when only one of the two cards is ace, this case will come under the condition when he tells a lie...
So, we get the probability as
(3/5)4C2 / [ (3/5)( 4C2) + (2/5) (52C2 - 4 C 2)]
Which, on solving, gives 3/443
What you have done is that you have considered unfavourable cases as 48C2, and hence those cases in which one of the cards is ace but the other is not, have been ignored... need ny more explanation???