<h1>Income Tax Department Raids Chandigarh Pharma Firm; Accused of Benami Land Deals and Tax Evasion via Shell Companies.</h1> The Income Tax Department conducted searches on December 13, 2020, targeting a Chandigarh-based pharmaceutical company and its affiliates across 11 locations in Chandigarh, Delhi, and Mumbai. The company is accused of acquiring 117 acres of Benami land in Indore through a shell company. Evidence revealed that the land was purchased for the Managing Director's benefit, using company funds. An agreement to sell the land, involving unaccounted cash of Rs. 6 crore, was discovered. The Managing Director allegedly claimed wrongful tax deductions and held Benami shares worth Rs. 140 crore. Cash and jewelry worth several crores were seized, and further investigations are ongoing.