August 4, 2017 1:13 PM

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I-T dept raids continue on Karnataka energy minister D K Shivakumar's properties

The Income Tax department continued its searches on Karnataka energy minister D K Shivakumar's properties in Bengaluru for the third consecutive day today. <br/><br/>Cash of over 11.43 crore rupees has been seized till now by the Income Tax Department from multiple premises linked to Shivakumar and his associates in connection with a case of alleged tax evasion. <br/><br/>The Income Tax officials also seized a number of documents, accounts books and financial papers. Income Tax sources says the valuation of some jewellery found during the searches is being done. Documents related to investments in real estate, including some alleged benami ones, are being analysed by the department. <br/><br/>The department has said that it is investigating Shivakumar in a case of alleged tax evasion and huge undisclosed investments in real estate, jewellery and other sectors.

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