<h1>Tax Evasion Uncovered: Real Estate Groups in Bengaluru & Hyderabad Concealed Over Rs. 400 Crore in Undisclosed Gains.</h1> The Income Tax Department conducted search and seizure operations on two prominent real estate groups in Bengaluru and Hyderabad, uncovering significant tax evasion. The searches spanned over 40 locations, revealing undisclosed capital gains exceeding Rs. 400 crore from Joint Development Agreements. Additionally, the groups suppressed Rs. 90 crore in revenue from real estate sales and inflated expenses by Rs. 28 crore through bogus purchases. The investigation also found misallocation of borrowed funds and transactions resembling taxable deemed dividends. A related trust failed to utilize Rs. 40 crore as specified. The operation resulted in the seizure of Rs. 3.50 crore in cash and Rs. 18.50 crore in valuables. Further investigations continue.