<h1>Income Tax Raid Uncovers Rs. 1000 Crore Evasion in Business Conglomerate; Seizes Rs. 44 Crore in Cash and Assets.</h1> The Income Tax Department conducted a search and seizure operation on July 20, 2022, targeting a major business conglomerate in fields such as textiles, chemicals, and real estate. The operation spanned 58 locations across several cities, uncovering significant tax evasion tactics like unaccounted cash sales, bogus purchases, and on-money real estate transactions. The group was also involved in share price manipulation and fund siphoning through fictitious entities. The search revealed unaccounted transactions exceeding Rs. 1000 crore, resulting in the seizure of Rs. 24 crore in cash and Rs. 20 crore in unexplained assets.