<h1>Income Tax Raids in Kolkata Uncover Rs. 178 Crore Concealed Income, Shell Companies, and Unaccounted Assets.</h1> The Income Tax Department conducted searches on two Kolkata-based groups involved in steel manufacturing, marble trading, and food grains. The operation uncovered evidence of shell entities used for bogus share capital and unsecured loans, stock discrepancies, and off-the-books cash transactions. The groups admitted to using these shell companies to recycle unaccounted money. The investigation revealed concealed income totaling Rs. 178 crore, including excess stock worth Rs. 38 crore. Authorities seized unaccounted cash of Rs. 1 crore and jewelry valued at Rs. 1.42 crore. Further investigations are ongoing.