<h1>Income Tax Raids Uncover Bogus Expenses and Hawala Payments in Hyderabad Business Group; Rs. 17.4 Crore Seized.</h1> The Income Tax Department conducted a search operation on a prominent business group in Hyderabad, with interests in infrastructure, irrigation, hydrocarbons, and power sectors. The operation covered over 30 locations in Hyderabad, NCR, and Mumbai. Authorities discovered evidence of large-scale bogus expenses, over-invoicing, out-of-books transactions, and book manipulation to suppress taxable profits. Additionally, illegal payments through hawala channels amounting to hundreds of crores were uncovered. Unaccounted assets worth Rs. 17.4 crore were seized. Further investigations are ongoing.