The Latest Breaking News from IT

As the Lok Sabha ethics committee prepares to hear cash-for-query allegations against Trinamool Congress MP Mahua Moitra, accusations are piling up about the misuse of parliamentary privileges, allegedly to help the Hiranandani Group and target its business rival Adani Group. 

The raids that went on for four days against “government contractors and real estate developers” in Karnataka, Andhra Pradesh, Telangana and New Delhi recovered ₹94 crore in cash and ₹8 crore worth of gold jewellery, diamonds and luxury watches, totalling ₹102 crore, the I-T Department said.

The Opposition BJP that staged a dharna throughout the State for the second day on Tuesday demanding the resignation of Chief Minister Siddaramaiah and Deputy Chief Minister D.K. Shivakumar, demanded a CBI probe into the recent I-T raids in Bengaluru unearthing crores of unaccounted money and valuables. 

K.C. Venugopal's surprise visit to Bengaluru sparked political speculations. He held talks with D.K. Shivakumar, M. Mallikarjun Kharge, and Sathish Jarkiholi. Reports of a group of MLAs visiting Mysuru were denied. Venugopal's visit coincided with I-T raids. Shivakumar said it was to review preparations for Lok Sabha polls. He also…

BJP protests CM & Dy CM over alleged corruption linked to I-T raids. CM calls allegations "baseless" & "politically motivated". BJP stages dharna in DC offices & demands resignations. CM says protests are for political purpose ahead of elections. Allegations "false & baseless", says CM.

In a continuation of the raids since Thursday, Income Tax (I-T) officials on Sunday searched an apartment in Kethamaranahalli at Rajajinagar belonging to a city-based builder and allegedly recovered cash worth several crores and incriminating documents from him

Kumaraswamy demands probe into I-T raid unearthing huge quantum of money. He questions D.K. Shivakumar's remarks, asking why he's showing signs of guilt. Wants CM/Deputy CM to decide nature of probe to uncover truth.

BJP to stage protests in all districts, taluks; demand CM, Dy CM's resignation over I-T raids. BJP to accuse Cong of corruption, link between money unearthed in raids and pending BBMP bills. BJP to demand end to trend in interest of Karnataka's people, CM, Dy CM to quit.

The Income Tax department has revoked the tax exemption status of four non-government organisations – Oxfam India, CARE India, Legal Initiative for Forest and Environment, and Environics Trust, Newslaundry learned from sources and top officials linked to these organisations. The tax exemption was reportedly revoked about two weeks ago.

Deputy Chief Minister D.K. Shivakumar on Friday claimed that the Income Tax searches in Bengaluru on the residences of contractors, who had alleged 40% commission in contracts during the previous BJP rule, were “politically motivated”. This drew a sharp reaction from the Opposition that claimed the money seized was “commission”…

BENGALURU: Income Tax (I-T) officials have been carrying out search and seizure operations at properties of several contractors in Karnataka since Thursday, sparking political allegations and counter allegations in the state.