<h1>Income Tax Dept Uncovers Rs. 3300 Crore Bogus Billing Racket; Major Corporates and Hawala Operators Involved in Fraudulent Activities.</h1> The Income Tax Department uncovered a significant racket involving bogus billing and hawala transactions during searches conducted in early November 2019. These operations spanned 42 locations across India, including major cities like Delhi and Mumbai. The investigation revealed that leading corporate houses in the infrastructure sector were generating cash through fraudulent contracts and bills, diverting funds intended for public projects. Evidence showed cash payments exceeding Rs. 150 crore to a notable figure in Andhra Pradesh. The searches exposed a network involving corporates and hawala operators, with bogus contracts amounting to Rs. 3300 crore. Authorities seized unexplained cash and jewelry worth several crores.