<h1>Income Tax Raids in Karnataka Expose Rs. 1300 Crore Unaccounted Income in Real Estate Deals; Cash and Gold Seized.</h1> The Income Tax Department conducted search and seizure operations in Karnataka on individuals involved in Joint Development Agreements with real-estate developers. The searches, spanning over 50 locations in Bengaluru, Mumbai, and Goa, uncovered substantial incriminating evidence, including documents and digital data. Findings revealed that landowners failed to disclose income from capital gains on land transfers, often inflating acquisition costs and not filing tax returns. The operations exposed over Rs. 1300 crore in unaccounted income and seized cash and gold worth more than Rs. 24 crore. The involved parties admitted their omissions and agreed to disclose the income and pay due taxes. Investigations continue.