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India


Income Tax dept cracks down on Hyderabad-based pharma group, Rs 142 crore seized

Income Tax dept cracks down on Hyderabad-based pharma group, Rs 142 crore seized

New Delhi, Oct 9 (UNI) Conducting search and seizure operations on a Hyderabad-based pharma
major, the Income Tax (I-T) Department has seized Rs 142.87 crore claiming the amount to be hidden income.
"During the search, several bank lockers have been found, out of which 16 lockers have been operated. The searches have resulted in seizure of unexplained cash amounting to Rs 142.87 crore so far. The unaccounted income unearthed is estimated to be in the range of about Rs 550 crore till now," the I-T department said in a statement.

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