Bangalore: The Income Tax Department has made an important disclosure about the late CCD founder Siddhartha. The Income Tax Department said VG Siddhartha had accepted an "unaccounted" property worth over Rs 658 crore on September 23, 2017. "As per the above information, I accept an unaccounted income of Rs 658,74,76,720," Siddhartha said in a statement with Sine. I confirm that I will abide by my confession and cooperate in further action.
I request you to be generous in implementing the penal provisions of the Income Tax Act. According to the statement, the 2012-13 assessment year involves an unaccounted amount of over Rs 204 crore due to the gap in the purchase and sale value of shares in different companies. The statement was made after an investigative operation was carried out at the premises of Siddhartha's Cafe Coffee Day on September 21, 2017.
The 71-question statement was recorded on September 23. That includes several breaks in between. In his signed statement, Siddhartha said, "What I have said in the statement is true and true. Whatever I have said in the statement has been said without any effect and pressure. If something goes wrong, I am aware of the consequences. I have read the correct statement. He said this to the Deputy Director of Income Tax (Investigation) in Bengaluru.
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