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Rs 100 cr unearthed in raids on Kota-based coaching institute

KOTA (RAJASTHAN): Income Tax officials have unearthed an undisclosed amount of Rs 100 crore after raids at 40 centres of a Kota-based coaching institute which had started on February 2 following a complaint of tax evasion.

In the raids which concluded last night, Rs 85 crore, including jewelry worth Rs 65 lakh and Rs 10 lakh in cash,¬†was detected with the institute’s group accounts while another amount of Rs 15 crore was discovered from its various associates, an I-T official said on condition of anonymity.

The documents related to investment have been seized by the department for the assessment, he said. (AGENCIES)

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