<h1>Income Tax Raid Uncovers Rs. 350 Crore in Undisclosed Foreign Accounts and Bogus Transactions in Textile Group.</h1> The Income Tax Department conducted a search and seizure operation on a prominent Indian business group involved in textile and filament yarn manufacturing, with offices in Delhi, Punjab, and Kolkata. The operation uncovered incriminating documents and digital evidence indicating the group's involvement in routing unaccounted funds back into its Indian entities and maintaining undisclosed foreign bank accounts with approximately Rs. 350 crore. Evidence of transactions outside official accounts, cash land deals, and bogus expenses was found. The group allegedly used foreign entities to invest in Foreign Currency Convertible Bonds and converted them into shares under false pretenses. The investigation is ongoing.