S M Krishna's son-in-law concealed income worth more than Rs 650 crore: IT department

The Income Tax department on Sunday said that former External Affairs Minister S M Krishna's son-in-law admitted to concealing income worth crores. After three days of searches at properties belonging to businessman VG Siddhartha, the income tax department claimed that he concealed income worth more than a whopping Rs 650 crores.

"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," said a statement from the Income Tax department. Raids were conducted at more than 25 locations in Bengaluru, Chennai, Chikkamagaluru etc on properties, firms etc belonging to VG Siddhartha.

While the searches that began on Thursday concluded on Sunday, former Karnataka Chief Minister and Maharashtra Governor, S M Krishna's son-in-law seems to be headed towards more trouble. The IT sleuths have maintained that apart from concealing income, Siuddharatha may have indulged in more violations.

"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," the statement also said. The raids on Siddharatha comes as a massive embarrassment to S M Krishna who quit the Congress recently to join the BJP.

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