Bengaluru, Aug 6: The nearly 75-hour income-tax raids on premises owned by Karnataka's minister D K Shivakumar and his associates ended on Saturday morning. While taxmen estimate the seizure to be over Rs 300 crore, a visibly-miffed Kumar said, "I haven't violated the law. I'll answer all queries with documents."
Sources in the I-T department said Shivakumar will be caught in tax rules and regulations for at least a year. This, perhaps, is the largest and longest raid conducted by I-T authorities on any politician in Karnataka in recent times -over 60 locations in the state and Delhi were simultaneously raided by more than 200 officials.
Shivakumar said, "Right now, I am not in a position to speak. Let the panchanamas (a document that records what happened during the searches) come."
"We have to collate the panchanamas recorded at the 60-plus locations and prepare an appraisal report. It will be handed over to the assessment officer who will determine lapses in declaration of income and the magnitude of evasion. Shivakumar will be given an opportunity to present his argument and challenge the raids in the high court if there are any shortcomings on the part of income-tax officials," I-T department sources said.
"Shivakumar will have to explain all transactions he has done in the 10 years," sources said.
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