<h1>Income Tax Raid Uncovers Rs. 400 Crore Unaccounted Income in Major Hyderabad Pharma Group, Seizes Rs. 1.66 Crore in Cash.</h1> The Income Tax Department conducted search and seizure operations on February 24, 2021, targeting a major pharmaceutical group in Hyderabad. This group, involved in manufacturing intermediates, APIs, and formulations primarily for export, was searched across 20 locations in five states. The operation resulted in the seizure of Rs. 1.66 crore in cash and incriminating digital evidence. Issues uncovered included transactions with non-existent entities, inflated expenses, suppressed receipts, and on-money payments for land purchases. Additionally, personal expenses were improperly recorded in company accounts. The search revealed unaccounted income of approximately Rs. 400 crore, with the group admitting to Rs. 350 crore. Further investigations are ongoing.