Ad

IT Deptt Raided Educational 9 Trusts in Bengaluru

(New Delhi)IT Deptt Raided Educational Trusts in Bengaluru
The Income Tax Department conducted search and seizure operation on 17.02.2021 on 09 major Trusts registered in Bengaluru &Mangaluru, which are running educational institutes including medical colleges. Searches were conducted at 56 different locations across Karnataka and Kerala.
Illegal capitation fee/ Donations are collected through a network of brokers/ agents employed by the key persons/Trustees of these medical colleges.
Searches have Resulted in recovery of Gold Jewellery of 81 Kg (valued at Rs. 30 crore), 50 carat diamonds and 40 kg of silver articles have been found from the residential premises of the trustees and are prime facie, unexplained. Evidence of undisclosed foreign assets of Rs. 2.39 crore in Ghana has also been found apart from evidence of huge investments in 35 Luxury cars in benami names.
Further investigation is in progress.