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Summary:

The Karnataka Commercial Taxes Department’s Enforcement Wing (South Zone) uncovered a large-scale interstate fake billing operation with transactions totaling ₹1,464 crore.

News Article:

Karnataka Tax Officials Unearth ₹1,464 Crore Fake Billing Racket

Bengaluru, India – The Karnataka Commercial Taxes Department has dismantled a significant interstate fake billing network, uncovering fraudulent transactions valued at a staggering ₹1,464 crore. The bust was conducted by the Enforcement Wing (South Zone) of the department.

Details regarding the mechanics of the fraud and the entities involved are currently under investigation. However, sources within the department indicate that the scheme involved the creation of fake invoices to evade taxes on interstate commerce.

“This is a significant discovery that highlights the department’s commitment to cracking down on tax evasion,” stated a spokesperson for the Commercial Taxes Department. “We are actively pursuing all leads and will bring those responsible to justice.”

The investigation is ongoing, and further details are expected to be released as the department progresses. The discovery is expected to send ripples through the business community and underscores the increasing vigilance of tax authorities in combating financial crimes.

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