BENGALURU: Department of Income Tax says there have been an admission of concealed income of Rs. 650 crore with Mr. Siddhartha who is a son-in-law of former union minister SM Krishna.
The raids began on Thursday in Bengaluru, Hassan, Chikmagalur, Chennai and Mumbai on 25 properties connected to VG Siddhartha.
Siddhartha is an partner of the well-known chain of cafes, Cafe Coffee Day, which has its headquarters in Bengaluru. IT department said, “The searches in a group involved in coffee, tourism, information technology and other areas concluded with an admission of previously concealed income exceeding Rs. 650 crore. The detection of undisclosed income is expected to be a much higher figure.”
“There is good number of issues including violations of other statutes on which there is no disclosure but relevant evidence has been found.
Mr Krishna recently joined the BJP. The BJP in turn has claimed the raid on Mr Krishna’s family member actually proves that the central government is not interfering in any investigation by central agencies.
