<h1>Income Tax Department Raids in Delhi Uncover Rs. 300 Crore Hawala Network Using Shell Entities for Fake Transactions.</h1> The Income Tax Department conducted searches in Delhi targeting hawala operators involved in managing unaccounted cash. The operation uncovered evidence of shell entities used for creating fake purchase and sale bills, and routing unaccounted funds through multiple bank accounts. These entities are typically closed after two months, with new ones established. The investigation revealed suppression of sales and bogus purchases exceeding Rs. 300 crore. The searches resulted in the seizure of unaccounted cash amounting to Rs. 14 crore and bullion worth Rs. 2 crore. Further investigations are ongoing.