Income Tax Department conducts search in Tamil Nadu and Puducherry

The Income Tax Department on October 5, 2023  conducted a search and seizure operation involving two groups primarily engaged in running educational institutions that specialize in professional courses. These groups are also diversified into various sectors, including distilleries, pharmaceuticals, hospitals, and hotels, among others. The search action encompassed approximately 100 premises across Tamil Nadu and Puducherry.

A significant volume of incriminating evidence, comprising loose sheets, physical documents, and digital data, was unearthed and confiscated. The tax evasion method identified in the operation of these educational institutions involves the concealment of fee receipts and the submission of false claims for scholarship disbursements.

Substantial evidence indicating unrecorded fee receipts in the accounting records and fraudulent claims of scholarship disbursements has been seized. Preliminary analysis has revealed evidence of unaccounted fee receipts amounting to over Rs. 400 crore, and erroneous scholarship disbursement claims totaling Rs. 25 crore. In one of the groups, the confiscated evidence suggests that the trust utilized agents for student recruitment, resulting in an undisclosed commission payment of approximately Rs. 25 crore.

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