<h1>Income Tax Raids Uncover Fund Siphoning by Educational Institution Chain; Seizes Cash, Jewelry, and Properties in Major Bust.</h1> The Income Tax Department conducted a search and seizure operation on a prominent educational institution chain on March 14, 2022, targeting over 25 locations in Maharashtra, Karnataka, and Tamil Nadu. The operation uncovered evidence of significant fund siphoning from Trusts for personal gain by the group's promoters and their families, violating tax exemption provisions. Bogus expenses were recorded through dummy companies owned by the promoters and associates. The funds were used for acquiring undisclosed properties and making illicit payments. The search led to the seizure of unaccounted cash and jewelry, and provisional attachment of properties. Investigations are ongoing.