The raids conducted to dredge up the large tax evasion by the Central Board of Direct Taxes on Monday has unearthed hawala racket worth Rs 3,300 crore. In the flash raids conducted in 42 premises across the country, the IT sleuths have revealed the bogus bills and information regarding hawala transactions carried from cities like Delhi, Mumbai, Hyderabad, Erode, Pune, Agra and Goa. The IT officials stated that the CBDT successfully identified the hawala operators and their entire chain of delivery which had links with leading corporate houses in the infrastructure sector.
“Funds set to major infrastructure and Economically Weaker Section projects were been illegally siphoned off through entry operators, lobbyists and hawala dealers. Major ones involved in bogus billing are South India based,” the statement read. “Unaccounted cash of Rs 4.19 crore and jewellery worth Rs 3.2 crore was also seized during the search operation,” it said. According to the trusted sources, the searches have unveiled the crucial evidence of a cash payment of more than Rs 150 crore to a prominent person in Hyderabad, Andhra Pradesh.
