DKShi’s assets worth Rs 75 cr to be seized by I-T dept

Team Udayavani, Mar 24, 2019, 3:17 PM IST

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Bengaluru: The Income Tax Department is in the process of confiscating benami properties estimated to be worth Rs 75 crore belonging to Water Resources Minister D K Shivakumar.

Addressing a press meet, Balakrishna B R, principal chief commissioner of Income Tax and director general (Investigation), Karnataka and Goa region, said that “There is clear evidence that the land was purchased in someone else’s name. I-T department will confiscate the property after which various tribunals set up for the purpose will adjudicate the matter.”

He further added that the money that they will be seizing was planned to be used during the elections.

It may be recalled that unaccounted property worth Rs 300 crore was unearthed by IT sleuths, who had cracked down on 50 places including DKS’s residence and offices in Delhi, Bengaluru and Mumbai on Aug 1st 2017.