New Delhi: The Income Tax Department during raids at a Chennai-based educational institute has detected undisclosed income of over Rs 350 crore and seized cash and jewellery worth Rs 8 crore, the Central Board of Direct Taxes said on Monday.
The searches were conducted on November 7 "in the case of a group of trusts that are running educational institutions in and around Chennai for the past 30 years", policy-making body for the tax department CBDT said.
While the Board did not mention where the raids were conducted, official sources confirmed it to be the Jeppiaar group.
The group runs a number of engineering, polytechnic, dental and nursing colleges, hospitals and schools, the CBDT said. It has interests in other sectors like fishing harbour, cement, milk, bottled water and iron and steel, it said.
