The raids were conducted at his residence in Bandra East after an FIR was lodged against him following the Bombay High Court's order.
Reports reveal that the former Congress chief's family owns as many as 22 bank accounts and his son's bank account witnessed a rise of Rs 60 crore between 2007 to 2009. However, his official records show that Singh has no known sources of income.
Reports also suggest that Kripashankar's wife's I-T reports showed that her taxable income was zero and the income from agricultural land was Rs 69,000 in 2004-05, however, as years passed by, her income came close to over Rs 11,60,214. Also the fact that her agricultural income was Rs 75,000 and Rs 1,28,000 in 2005 and 2008 showed that it was over Rs 25,91,189 and Rs 1,35,68,333 in reality, according to the Income Tax Department.