I-T Department Attaches Rs 75-Crore Worth Assets Of Karnataka Congress Minister D K Shivakumar

The Income Tax (I-T) department has provisionally attached properties worth Rs 75 crore belonging to senior Congress leader from Karnataka D K Shivakumar in a disproportionate assets case, reports The Hindu.

This is the first time that properties belonging to a minister have been attached under The Benami Transactions (Prohibition) Act, 1988 in the state. Shivakumar, a Member of Legislative Assembly (MLA) from Kanakapura constituency currently serves as the Irrigation and Kannada and Culture Minister.

According to an annual report of the Income Tax Department (Karnataka and Goa), I-T officials have detected undisclosed income of Rs 7,098.32 crore till February of the current financial year and assessees have admitted to Rs 4,711.54 crore of undisclosed income.

“During 2018-19, investigations were marked by wide coverage across sectors — film industry, mining, diagnostic labs, city-based multinational companies, and Cabinet Ministers,” the department said.

Over the year, the department has also made 235 provisional attachments, attaching properties worth Rs 389.4 crore and over 200 acres of land. Till date, the department has been successful in the identification of 92 benamidars and 36 beneficial owners. This figure includes the attached assets of D K Shivakumar.

Not The First Time

In a raid conducted in 2017, nearly Rs 20 crore unaccounted cash was recovered in New Delhi and Bengaluru, and it was traced back to D K Shivakumar.

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