Former finance minister P Chidambaram on Sunday said political motive was behind the “wild and reckless” allegations that his son Karti Chidambaram has undisclosed assets and insisted that he runs a legitimate business fully compliant with laws and regulations of the income-tax department.
“We know that Karti is being targeted only because he is my son and the real target is me,” he said in a statement. “Ultimately, truth will prevail.”
The senior Congress leader also offered his son’s “undisclosed assets” to the government for Re 1.
“If the government is of the view that Karti has undisclosed assets, I would ask the government to make a list of such alleged undisclosed assets. Karti will voluntarily execute any document necessary to transfer those assets (allegedly undisclosed) to the government for a nominal consideration of Rupee 1,” Chidambaram said. “Let the government become the owner of the alleged undisclosed assets.”
He said Karti’s assets and liabilities have been duly disclosed in his tax returns and that he and his business were fully compliant with laws and regulations of the Income-tax department and all other regulatory authorities concerned. “He has no undisclosed asset anywhere. The allegation that he has undisclosed assets is preposterous, malicious and totally false.”
Clarifying that Karti runs a legitimate business, apart from managing inherited property, Chidambaram said his son has been an income tax assessee for many years and duly and regularly filed his income tax return, including a statement of assets and liabilities, every year. The assessments have been completed up to 2013-14 by the Income-tax department, he added.
“I am issuing this statement on behalf of all members of my family….I understand the political motive behind the accusations…. I have nothing but pity for those who make these false accusations,” he said.
For two days last week, Parliament was disrupted on the issue of alleged assets of Karti with the AIADMK and BJD demanding a thorough probe and action against the former minister’s son.
On Wednesday, the Lok Sabha had a discussion on the issue with finance minister Arun Jaitley telling the House and there are “no holy cows” for the government to protect and that action would be taken against anyone found guilty “howsoever important” one may be.