IT raids education institutions' operators; cash, documents seized

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Chennai, Sep 30 (UNI) The Investigation Directorate of the Income Tax Department conducted a raid yesterday ''in case of certain persons and trusts'' operating a number of educational institutions, seizing incriminating documents, unaccounted cash of Rs 41 lakh and valuables to the tune of Rs 18 lakh.

An official release here said 13 premises of the trusts, which were operating a number of educational institutions in the city and Kancheepuram District, were combed and raids conducted on four business premises.

More than 130 officers of Income Tax Department were deputed in the raid, which included the offices of the trusts, educational institutions as well as the residences of the principal trustees, it said.

These institutions offered various professional courses in medical, paramedical, dental, engineering and catering fields, besides running a hospital, the release said.

In course of the operation, incriminating documents were seized, evidencing collection of huge amounts in cash by way of capitation fee over the stipulated amount for which no receipts were issued by the trusts and were also not reflected in the accounts maintained by them.

These trusts also didn't file the prescribed returns of income for the assessment year 2007-08 so far, the release added. Further investigations were on in the case.

UNI WS DB AE AS1740

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