- The Income Tax department completed search operations in the premises and offices of Siddhartha and found concealed income to the tune of a whopping Rs 650 crore
- The raids on 25 properties connected to VG Siddhartha began on Thursday in Bengaluru, Hassan, Chikmagalur, Chennai and Mumbai
- The IT sleuths are expecting the 'undisclosed income' to be much higher
As the income tax raid case on former Karnataka Chief Minister SM Krishna’s son-in-law VG Siddhartha gets murkier, skeletons are stumbling out of the closet with IT officials unearthing a shocking secret.
The Income Tax department completed search operations in the premises and offices of Siddhartha and found concealed income to the tune of a whopping Rs 650 crore.
The raids on 25 properties connected to VG Siddhartha began on Thursday, September 21 in Bengaluru, Hassan, Chikmagalur, Chennai and Mumbai.
The IT sleuths are expecting the 'undisclosed income' to be much higher, reported NDTV.
In Karnataka, the raids were conducted at the head office of Cafe Coffee Day in the Central Business District in the heart of the city. Siddhartha’s residences in Bengaluru and Chikmagalur were also searched by the officials.
The IT department also said, "There are a number of other issues including violations of other statutes on which there is no disclosure but relevant evidence has been found. These will be pursued effectively with vigour, energy and imagination.”
There has been no public response so far to the raids from Siddhartha or SM Krishna.
Siddhartha is the owner of the popular cafe chain Cafe Cofee Day (CCD). The raids on Siddharatha come as a massive embarrassment to SM Krishna who recently left Congress to join the BJP, ending his 40-year-old association with the Congress.
After his switching of parties, Congress leaders claimed that it was an attempt to protect his son-in-law’s businesses from being targeted by tax and other authorities since the BJP is in power at the centre. Krishna’s son-in-law Siddharth has investments in wide range of sectors in India and abroad.
Last month tax authorities had conducted searches on Karnataka minister and Congress leader D K Shivakumar who is a political protege of SM Krishna. In the searches conducted on Thursday the IT department also scrutinized a close associate of Shivakumar with links to Krishna’s son-in-law. The searches at properties linked to Shivakumar last month unearthed undisclosed income to the tune of Rs 300 crore, reported the Indian Express.
Congress leaders had claimed that the raid on Shivakumar was due to a political vendetta and accused the BJP of using the IT department.
However, BJP has claimed that the raid on Krishna's family member actually proves that the central government is not interfering in any investigation by central agencies.
Last Updated 31, Mar 2018, 7:07 PM IST