Raids lead to Rs 409 crore unaccounted cash receipts: Tax dept

The Income Tax department on Friday said searches in the premises of a group of firms founded by spiritual guru 'Kalki' Bhagwan has led to unearthing of unaccounted cash receipts to the tune of Rs 409 crore.

The premises of a conglomerate of trusts and companies founded by the spiritual guru that ran "wellness courses" at Varadaiahpalem in Andhra Pradesh, Chennai and Bengaluru were searched on Wednesday.

During the searches, evidence has been found that the group has been regularly suppressing its receipts at its various centres or ashrams, a tax department release said.

"It is learnt that the group also earned unaccounted income in receiving cash from property sales over and above documented values.

A preliminary estimate of such unaccounted cash receipts is Rs 409 crore from Financial Year 2014-15 onwards," the release added.

The tax department, however, refrained from naming Kalki Bhagwan and instead confined itself to describing him as a spiritual guru with "oneness" philosophy.