P Chidambaram finds Karti Chidambaram targeted as he is his offspring
All his son's assets and liabilities have been disclosed in his tax returns.
Chennai: “Karti Chidambaram has been targeted because he is my son”, says former Union Finance Minister and Congress leader P Chidambaram. He stated, “a few days ago, a media report published wild and reckless allegations against my son, Karti Chidambaram, and by implication against me”. “It was obvious to everyone that it was a planted story”, he said.
Brushing aside the report as false, Chidambaram said Karti has been running a legitimate business, apart from managing inherited property. He has been an income tax assessee for many years. He has been filing his income tax return, including a statement of assets and liabilities, every year. The assessments have been completed upto AY 2013-14 by the Income-tax department.
All his son’s assets and liabilities have been disclosed in his tax returns. He has no undisclosed asset anywhere. He and his business are fully compliant with the laws and regulations of the Income-tax department and of all other regulatory authorities concerned. The allegation that he has undisclosed assets is preposterous, malicious and totally false.
He went on to say, “If the Government is of the view that Karti Chidambaram has undisclosed assets, I would ask the Government to make a list of such alleged undisclosed assets. Karti Chidambaram will voluntarily execute any document necessary to transfer those assets (allegedly undisclosed) to the Government for Rs 1. Let the Government become the owner of the alleged undisclosed assets”, he said.
Stating that the statement is released on behalf his family members, Chidambaram said, “We know that Karti is being targeted only because he is my son and the real target is me”. I understand the political motive behind the accusations and the timing of the story. I have nothing but pity for those who make these false accusations. Ultimately, truth will prevail”.
A media report alleged that Karti built a huge empire for himself in different parts of the world by making investment in real estates and engaging in other business activities in 14 countries.
The report alleged that this was revealed through documents recovered during raids by Enforcement Directorate and investigation wing of Income Tax in the Aircel-Maxis scam.