The Income Tax department has detected undisclosed assets worth over Rs 162 crore and seized Rs 41 lakh cash, besides over a dozen kg in gold and jewellery during searches on the premises of a Karnataka minister and state Mahila Congress chief.
Officials said the department has also got inputs about a number of "benami" assets and "unexplained investments" during the searches at the premises of Small Scale Industries Minister Ramesh L Jarkiholi and Mahila Congress president Laxmi R Hebbalkar in Gokak, Belgaum and here last week. The searches followed allegations of tax evasion. Both Jarkiholi and Hebbalkar were not available for comments.
"The searches led to the admission of undisclosed income of Rs 162.06 crore and unexplained cash amounting to Rs 41 lakh, besides 12.8 kg gold and jewellery. Many people who had large incomes and investments were found not to be filing I-T returns and the probe is going on," they said.