The family of senior Congress leader and former finance minister P Chidambaram today said the Income Tax Department (ITD) charge sheets against them under the black money law were baseless allegations as the overseas investments under question were duly reflected in their IT returns.
The chartered accountant for the senior Congress leaders’ wife Nalini and the one for his son Karti Chidambaram, daughter-in-law Srindhi and a firm Chess Global Advisory Services Private Limited issued two separate but identical replies in response to the tax department’s action.
The statements said: “The Income Tax returns are prepared and filed on the advice of the chartered accountants. The investments in question were made through bank remittances.
They were duly disclosed in the returns of income filed under Section 139 of the Income Tax Act for the relevant assessment year.”It is totally wrong to allege there was a wilful failure to disclose the investments. The returns of income are a complete answer to the baseless allegation.
The Income-Tax department has filed four chargesheets against former Union finance minister P Chidambaram’s wife Nalini, son Karti and daughter-inlaw Srinidhi under the black money law for allegedly not disclosing foreign assets.
These have been posted for hearing on June 11, 2018. The prosecution complaints have been filed before a special court in Chennai under Section 50 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Writ petitions filed by them were dismissed or disposed of by Madras High Court paving the way for filing of prosecution complaints.