D K Shivakumar made 'benami' deposit of Rs 4 crore, I-T dept. tells HC

The Income Tax (I-T) department has informed the High Court that Energy Minister D K Shivakumar has made a 'benami' deposit of Rs 4 crore, for the the Bengaluru Palace Grounds property contract, and got the agreement made in his  relative's  name.  

The I-T department has stated the minister has transacted in the name of his relative Shashikumar and handed over a cheque of Rs 1 crore to the Vishalakshi Devi of the royal family of Mysuru.  

The remaining Rs 4 crore has been paid in cash through a person named Chandrashekhara Sukhapuri. In this manner a total Rs 5 crore deposit has been made, I-T officials have stated to the court.  

I-T officials who raided the minister's house on August 2 and 3, had also raided Shashikumar's and Vishalakshi's house and found evidence of the transaction.  

Vishalakshi  Devi had denied involvement in the transaction and approached the court when her property was seized by I-T officials.    

But the I-T department has now maintained that Shashikumar, Chandrashekhar were involved in the transactions.    

I-T department has stated before the court that, "Shashikumar and Chandrashekhar haven't provided any evidence for the source of the Rs 4 crore. Though industrialist Sachin Narayan has admitted that the money is his, he too has failed to provide evidence for it. So there is no doubt that D K Shivakumar himself has deposited the amount in a benami manner."