<h1>Tax Raid Uncovers Rs. 380 Crore in Unaccounted Funds via Shell Entities; Ongoing Probe into Bogus Sales & Purchases.</h1> The Income Tax Department conducted a search and seizure operation on a synthetic yarns and polyester chips manufacturer and distributor with operations in Delhi, Dadra Nagar Haveli, and Dahej. The search revealed substantial evidence of unaccounted transactions, including cash purchases, sales suppression, and bogus sales. The group allegedly routed Rs. 380 crore in unaccounted funds through paper entities as unsecured loans and introduced Rs. 40 crore through shell entities as share premium. Directors and auditors of these entities admitted to providing accommodation entries. Evidence of Rs. 154 crore in bogus purchases was found, along with unaccounted jewelry and restrained lockers. Investigations are ongoing.