CHENNAI: Wellness guru and self-styled godman Kalki Bhagwan and his son N K V Krishna are likely to be summoned by Income Tax department over undisclosed income which could run more than Rs 600 crore, according to sources in the department.
Sources told Express that raids which were carried out in 40 premises belonging to the wellness guru and his son located in Chennai, Hyderabad, Bangalore and Varadaiahpalem culminated on Monday. The Income-tax officials have unearthed unaccounted cash worth Rs 45 crore, jewellery worth Rs one core and foreign currency worth Rs 20 crore approximately.
"The undisclosed income is more than Rs 600 crore and a final figure would come up after the investigation," the sources said.
The group made a lot of investments in land and currently, the details are being collated, the source said refusing the quantify the number of investments.
The source also said that money has been siphoned abroad through investments in jewellery and others and it will be investigated under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which aims to curb black money, or undisclosed foreign assets and income and imposes tax and penalty on such income.
The source parried out queries on whether the Enforcement Directorate will join the investigation under the Prevention of Money laundering Act.