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Chandigarh: Taxmen find more wrongs at 2 schools

CHANDIGARH: A day after starting a survey at two Tricity colleges — St Peter’s School, Sector 37-B, Chandigarh, and Gillco International School, Kharar — source of revenue tax officers recorded statements of lecturers and personnel and found more irregularities and evidence, together with papers of undisclosed belongings and previous source of revenue tax returns with false main points.

As according to the I-T officers, they have got “sufficient evidence” to behave against both the universities.

Two groups of 15 officers had started the survey at both the universities on Wednesday and found that they have got defaulted on tax. While St Peter’s School allegedly used the trust money meant for the institute on non-public benefits like buying luxurious cars, houses, amongst others, Gillco School authorities availed the tax benefit meant for colleges that have were given exemption underneath the I-T Act, which it did not have.

“We have found many evidence. For instance, in relation to Gillco School, I-T returns of the previous two to a few years were filed underneath Section 7 of the I-T Act, which is supposed for those who have sought tax exemption. This faculty has no longer been exempted,” a senior I-T officer advised The Times of India.

“At St Peter’s, statements of foremost, lecturers and personnel were recorded and some new main points have come out. We found signed blank cheques and documents of investment in undisclosed belongings,” the officer added.

The faculty authorities can also be jailed for this, the IT officers mentioned. “Gillco is a are compatible case for prosecution underneath sections 277 and 276-C of the I-T Act for making false claims of having exemption certificate and submitting wrong I-T returns. In case of St Peter’s, a letter for withdrawal of tax exemption would be despatched to the school and spot of prosecution will be issued to Gillco authorities,” mentioned an reputable.

Once the exemption is withdrawn, St Peter’s will have to pay round Rs 15 crore as tax for the former years. In addition to this, they're going to have to pay crores for property they allegedly purchased from the school’s money. “The re-examination of property is but to be accomplished. They will be evaluated at marketplace price,” the reputable mentioned.

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