CCD owner VG Siddhartha admitted he concealed 650 crores: Income Tax department
Authored By Wion Web Desk
Published: Sep 24, 2017, 23:15 IST | Updated: Sep 24, 2017, 23:15 IST
VG Siddhartha
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The Income Tax Department, which concluded raids?on Cafe Coffee Day founder and owner VG Siddhartha?on Sunday, confirmed that it had detected Rs 650 crores of undisclosed income in four days
The Income Tax Department, which concluded raidson Cafe Coffee Day owner VG Siddharthaon Sunday, confirmed that the CCD founder said he had concealedRs 650 crores of his income.
The IT department added that it suspected there was more income that had been concealed.
The raids, which began on Sunday, were conducted on twenty-five properties of Siddhartha in Bengaluru, Hassan, Chikmagalur, Chennai, and Mumbai.
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Coffee entrepreneur VG Siddhartha is the son-in-law of former union minister SM Krishna.
SM Krishna, whorecently joined the BJP, had been a member of Congress for decades. He has also served as the chief minister of Karnataka and minister for external affairs.