<h1>Income Tax Raids in Mumbai Uncover Rs. 200 Crore Tax Evasion by BMC Contractors and Associates; Seize Cash and Jewelry.</h1> The Income Tax Department conducted search and seizure operations in Mumbai on February 25, 2022, targeting contractors linked to the Brihanmumbai Municipal Corporation, a prominent individual, and their associates. Over 35 locations were searched, uncovering incriminating documents, digital evidence, and details of approximately three dozen properties valued over Rs. 130 crore. Evidence of international hawala transactions and unaccounted cash dealings were found, indicating significant tax evasion. Contractors reportedly inflated expenses through over-invoicing and non-genuine claims, evading around Rs. 200 crore in taxable income. Undisclosed cash and jewelry worth Rs. 3.5 crore were seized, with further investigations ongoing.