IT raid on Chennai education group reveals undisclosed income

The Income Tax (IT) Department has found undisclosed income and instances of fund diversion by a group of trusts that runs educational institutions in and around Chennai after a search action last week, an official statement said on Monday. "The preliminary estimate of the undisclosed income of the group detected so far is more than Rs 350 crore," a statement by the Central Board of Direct Taxes (CBDT) said.

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