After the 6-day long raids on Kota’s biggest coaching institute, Allen Career Institute, the Income Tax (IT) department has identified around Rs 100 crore of undisclosed income.
The IT department concluded its raids on Allen Career Institute on Tuesday late night. IT department sources informed that the IT teams have detected undisclosed income of around Rs 85 Crore at Allen Career Institute of Kota and Rs 15 Crore of undisclosed income at different associates related with Allen Institute.
IT teams have also seized jewellery worth Rs 65 lakh and cash worth Rs 15 lakh during the raid. IT sources revealed that the assessment of the raids would continue. IT teams kept their scope wide during raids and investigated the faculty members, relatives and associates of the institute as well. The IT department has also taken documents related to investments.
Under the leadership of the Investigation Wing of the Joint Director office of Income Tax department, Udaipur, the Income Tax department had launched raids at around 40 establishments of Allen Career Institute in the country including 27 places of Allen Career Institute in Rajasthan of which 22 were in Kota alone. The raids began on February 2 and concluded on February 7.