Millennium Post

I-T sleuths raid SRM group, seize `6.75 crore & documents

Income Tax sleuths have seized cash to the tune of Rs 6.75 crore, besides documents indicating allegedly inflated expenditure and diversion of funds during their two-day raid on over 25 premises belonging to the SRM group, a top official said on Wednesday.

'Documents indicating receipt of donations, inflated expenditure, diversion of funds of trusts and evasion of income tax were found during the operation', Sanjay V Deshmukh, Joint Director of Income Tax (HQ)(Investigation) said in a release.

Further invesigation was in progress, he added. Operations were on in Chennai, Tiruchirapalli, Delhi, Ghaziabad, Sonepat and Bangalore.
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