The eight member team had conducted the raid at the Congressman's house in Savaripadayatchi street here yesterday.
There were allegations that John Kumar had received money to vacate the seat on September 15.
Narayanasamy is a non-member of the Assembly.
John Kumar said that the Income Tax team from Chennai had held a raid at his house yesterday.
"I voluntarily disclosed to them the full and factual details including the sale of an agricultural land for Rs 1.6 crore. I handed over the cash to them and as the transaction was done on September 14 as I am yet to get the details relating to the sale of the property", he said reacting to the raid.
He said that "I have been maintaining accounts and have been paying income tax to the tune of Rs 45 lakhs every year besides Rs 2 crores towards service tax", he said.
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