I-T raids unearth undisclosed income of Rs 162 crore

by news
January 24, 2017

Bengaluru: The Income Tax searches conducted on premises of four persons, including Minister for Small Scale Industries and another prominent member of the party, have now revealed undisclosed income of Rs162 crore. This includes Rs 41 lakh cash and 12.8 kg of gold and jewellery.The Income Tax officials searched several premises in Belagavi, Gokak and Bengaluru belonging to Minister Ramesh L. Jarkiholi and Karnataka State Mahila Congress president and Belagavi DCC chief Laxmi Hebbalkar, both of whom have interest in sugar factories in Belagavi district. Premises belonging to two other persons, H.D. Mulla and Ali Atthar, learnt to be Jarkiholi’s aides, were also searched.

On Monday evening, the Income Tax Department issued a press release detailing the search operations. It, however, did not mention the names of the Minister or Ms. Hebbalkar. “Many persons who had large incomes and investments were found to be not filing returns,” it said.