<h1>Income Tax Department Uncovers Rs. 309 Crore Concealed Income in Kolkata Business Raids; Rs. 175 Crore Admitted.</h1> The Income Tax Department conducted a search and seizure operation on a business group in Kolkata involved in manufacturing iron, steel, and tea. The action, based on data analysis and market intelligence, covered over 25 locations across several cities. Authorities discovered evidence of shell entities used for bogus share capital and unsecured loans, along with off-the-books cash transactions. The group was found to have concealed income totaling Rs. 309 crore, with an admission of Rs. 175 crore in undisclosed income. Further investigations are ongoing.