I-T dept detects Rs 550 cr in hidden income after raids on Hyderabad-based pharma group

The Income Tax Department has detected "unaccounted" income of Rs 550 crore during a search and seizure operation carried out on a major pharmaceutical group based in Hyderabad on October 6.

The Income Tax Department has detected "unaccounted" income of Rs 550 crore and seized over Rs 142 crore in cash after it recently raided a Hyderabad-based pharmaceutical group.

The search and seizure operations were carried out by the Income Tax Department on October 6 at about 50 locations in six states.