https://www.taxtmi.com/news?id=22110 Searches under the Income-tax Act on a group of educational trusts uncovered suppression of fee receipts, unrecorded cash transactions, loans in cash, non-disclosure of property sale receipts, and an alleged scheme where actual fees were recorded as advance liabilities and routed to sister concerns against inflated expenses, resulting in diversion of trust funds; searches produced significant cash and jewellery seizures and a preliminary estimate of substantial undisclosed income, with investigations continuing. en-us Wed, 13 Nov 2019 11:59:39 +0530 Wed, 13 Nov 2019 11:59:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22110 Searches under the Income-tax Act on a group of educational trusts uncovered suppression of fee receipts, unrecorded cash transactions, loans in cash, non-disclosure of property sale receipts, and an alleged scheme where actual fees were recorded as advance liabilities and routed to sister concerns against inflated expenses, resulting in diversion of trust funds; searches produced significant cash and jewellery seizures and a preliminary estimate of substantial undisclosed income, with investigations continuing. News - Wed, 13 Nov 2019 11:59:39 +0530 https://www.taxtmi.com/news?id=22110