Bengaluru: Huge deposits of cash and gold have been recovered from the Karnataka minister Ramesh L Jarkiholi and the chief of the state Congress women’s wing, Laxmi R Hebbalkar following raids by the Income Tax (IT) department sources said.
Rs. 41 lakh in cash and 12.8 kg of gold were found during the raids at their homes in Belgaum, Gokak and Bengaluru. The department also said there was an “admission of undisclosed income” to the tune of Rs. 162 crore.
The IT department said there was evidence that the companies of Jarkiholi, the minister of small-scale Industries, and Hebbalkar both of whom are involved in sugar business had evaded taxes in a “systematic” and “organised” manner.
The Income Tax department said that the searches were launched on January 19 to probe allegations of tax evasion in the business groups.