Searches in multiple premises spread across Southern States in firms and trusts founded by spiritual guru 'Kalki' Bhagwan has led to detection of undisclosed income of more than Rs 500 crore, the Income Tax department said on Friday.
The undisclosed income covers unaccounted cash receipts of about Rs 409 crore.
A total of Rs 43.9 crore in cash and US currency worth Rs 18 crore was seized and the total value of seizure is about Rs 93 crore, which includes gold and diamonds, a tax department official release said.
It was found that the group was investing in tax havens and the tax department is probing "diversion of income taxable in India to offshore entities."
The group, with interests in several sectors, including real estate, construction and sports in India and abroad, "is presently managed and controlled by the spiritual leader who laid the foundation of the group, and his son."
"All these leads are being pursued and investigation is in progress."
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