I-T dept doubts authenticity of VG Siddhartha’s last letter

I-T dept doubts authenticity of VG Siddhartha’s last letter

Agency News

The authenticity of the purported letter of the Café Coffee Day founder VG Siddhartha, who found dead on Wednesday, is questioned by the Income Tax department(I-T) of Karnataka.

Questioning the authenticity, the I-T department officials said that the the signature in the purported letter does not tally with VGS' signature as available in his annual reports. In this last letter, which is allegedly written by 47-year-old Coffee baron, Siddhartha had blamed the harassment by I-T officials behind his decision to take extreme step in life.

In a statement issued by the Income Tax department in response to Cafe Coffee Day founder VG Siddhartha's allegations, the I-T department elaborates that the investigation into Siddhartha and Cafe Coffee Day (CCD) arose from the search in a case related to a Karnataka politician. The name of the Karnataka politician is not mentioned in the IT Department's statement. Former CM SM Krishna is Siddhartha's father-in-law. It said that the investigation was based "on the unearthing of a credible evidence of financial transactions done by CCD in a concealed manner."

The statement said that a person with Singapore citizenship was caught with unaccounted cash of Rs 1.2 crore. That individual had admitted the cash belonged to Siddhartha. The statement said that Siddhartha admitted the unaccounted income of Rs 362.11 crore and Rs 118.02 crore for Coffee Day Enterprises in a sworn statement.

In the letter, purportedly written by VG Siddhartha, the Café Coffee Day founder had said, "There was a lot of harassment from the previous DG income tax in the form of attaching our shares on two separate occasions to block our Mindtree deal and then taking position of our Coffee Day shares, although the revised returns have been filed by us. This was very unfair and has led to a serious liquidity crunch."