Huge cash haul at Pondy, TN institutions

The seizure of unaccounted cash continued till late in the evening and sources in the I-T department confirmed that the amount could be much higher and a final figure would be known only at the end of raids.

Income Tax department had carried out raids at 26 locations in Tamil Nadu and Puducherry belonging to these educational groups after it gathered files regarding largescale tax evasion by the groups’ management. Highly placed sources in Income Tax investigation department told DTNext that several incriminating documents that pointed to large scale tax evasion were seized.  “We have seized large amounts of cash and property documents belonging to these groups. The extent of tax evasion would be known only after scrutiny of all the seized documents,” a senior official of the I-T investigation department told DTNext. 

The simultaneous raids began early in the morning and continued late into the night. Income Tax department had made a survey of these groups earlier and collected enough evidences that confirmed tax evasion. through “creative means”.  “This is also major progress achieved at the plenary session. China has been working positively and constructively to that end,” she said.