Chargesheet filed against Chidambaram, wife, son and daughter-in-law

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CHIDAMBARAM

Earlier, the department had issued a notice to Karti and his family members for not disclosing either fully or partially, their immovable assets

The Hush Post: The Income Tax Department filed a chargesheet against former Union Finance minister P  Chidambaram’s wife Nalini, son Karti and daughter-in-law Srinidhi.

Nalini Chidambaram, Karti and Srinidhi were charged with not disclosing their foreign assets.

The chargesheet was filed by the department before a Special Court in Chennai under Section 50 of the black money (Undisclosed Foreign Income Assets) and Imposition of Tax Act,2015.

Earlier, the department had issued a notice to Karti  and his family members for not disclosing either fully or partially, their immovable assets. The assets comprised of property worth Rs 5.37 crore at Cambridge in UK, property worth 80 lakhs in the same country and assets worth Rs 3.28 crore in the US.

The chargesheet claimed that the family did not disclose these investments to the tax authority as also by the firm co-owned by Karti-Chess Global Advisory in violation of the black money law.

In 2015, after demonetisation Modi government  made a rule to prosecute those Indians who had secretly stashed illicit wealth abroad.

But Karti had refused that he had any such property or wealth stating that he had already submitted the details of the assets and related transactions done last year to another tax authority. Parellel proceedings cannot take place against an individual under the same law.

Later, the writ petition was declared invalid by the high court. Officials said that the petition had been filed as the investigation had reached its “logical conclusion” and can be presented before the court. The Income Tax department had slapped the Black Money Act against Karti last year after it found that assets created by him abroad were in alleged violation of law.

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