Bengaluru: The family members of Energy Minister D.K. Shivakumar on Monday appeared before the Directorate of Income Tax (Investigation), Karnataka & Goa, on Queen’s Road after they were issued summons to appear before the I-T sleuths to explain the unaccounted income of around Rs 100 crore, which was seized by the Directorate during the raids in August this year.
Tax officers told this newspaper that this was a “routine” procedure to summon tax assessees in cases of alleged tax evasion or concealment to explain why they had not declared the taxable income.
The Directorate had reportedly unearthed huge amounts of undeclared income worth over Rs 300 crore from the several premises of Mr Shivakumar and his family members during the search and seizure operations at 64 locations in Delhi and Karnataka. Of over Rs 300 crore alleged undeclared income, over Rs 100 crore reportedly belonged to Mr Shivakumar and his family members, highly-placed sources told this news paper on condition of anonymity.
The DGIT has also seized undeclared assets, including jewellery worth Rs 15 crore, and huge stash of incriminating documents during the operations. “The balance undeclared income of over Rs 200 crore, which was unearthed by Income Tax sleuths belonged to various business groups, including a top real estate group and a transport firm, among others, where he (Mr. Shivakumar) allegedly has business investments," said the sources.
