Income Tax officials conducted widespread raids on several prestigious educational institutions in Bengaluru over alleged tax evasion and disproportionate assets.
Income Tax Department officials carried out extensive raids on several prestigious educational institutions in Bengaluru on Wednesday, September 24, in connection with allegations of tax evasion and disproportionate assets. Over 200 IT officials were deployed simultaneously to conduct document verification and gather evidence.
The raids targeted multiple engineering colleges in prominent areas including Banashankari and Hosakerahalli. Additionally, a college in Kuppam, Andhra Pradesh, was also searched as part of the coordinated operation. The Income Tax officials not only inspected the campuses but also conducted raids at the residences of college management members, collecting crucial documents and other information related to financial transactions.
Sources indicated that the operation focused on verifying compliance with tax laws, scrutinizing financial records, and identifying any irregularities in the institutions’ income and expenditures. The raids come amid allegations that certain management members had amassed disproportionate assets over time and failed to disclose income properly, triggering suspicions of tax evasion.
The IT department confirmed that the operation is ongoing and additional inspections may be conducted as needed. Officials emphasized that the exercise is part of a broader effort to ensure accountability and transparency in the management of educational institutions.
No official comments have been released by the management of the institutions raided so far. Investigations are expected to continue in the coming days, and the authorities are likely to take further action based on the findings of the document verification and asset assessment. The raids have drawn widespread attention across the state, highlighting the increasing scrutiny of private educational institutions.