<h1>Hyderabad Group's Rs. 1,200 Crore Artificial Loss Scheme Uncovered in Tax Raid; Admits to Rs. 300 Crore Unaccounted Income.</h1> The Income Tax Department conducted a search and seizure operation on a Hyderabad-based group involved in real estate, construction, waste management, and infrastructure. The operation uncovered incriminating documents revealing unaccounted transactions and artificial loss creation to offset capital gains from a stake sale to a Singaporean entity. The group devised schemes involving share transactions with related parties, generating an artificial loss of approximately Rs. 1,200 crore. Additionally, incorrect bad debt claims of Rs. 288 crore were identified. Unaccounted cash transactions were also detected. The entities admitted to Rs. 300 crore of unaccounted income and agreed to pay due taxes. Further investigations are ongoing.