I-T Dept raids 2 real estate developers in Hyd, seizes ₹11.88 cr cash

The Income Tax Department conducted searches on two real estate developers in Hyderabad and seized ₹11.88 crore in cash and jewellery worth ₹1.93 crore, the Central Board of Direct Taxes (CBDT) said. The Finance Ministry said that the search resulted in the detection of incriminating evidence relating to the unaccounted cash receipts worth ₹700 crore for the last six years.