BY SUNIT JANGIR
The Income Tax Department on Wednesday carried out searches at over 30 locations in Mumbai and Pune, including the premises of film director Anurag Kashyap, actress Taapsee Pannu, filmmaker Vikas Bahl, and Madhu Mantena. Now, the IT Department has issued an official statement on the raids they carried out in Mumbai at different properties and claims crores hidden. ##
The statement read, "The Income Tax Department is carrying out search and survey operations which started on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. Search operation is being carried out at Mumbai, Pune, Delhi, and Hyderabad. The group is mainly engaged in the business of Production of Motion Pictures, Web Series, acting, direction, and talent Management of celebrities and other artists. A total of 28 premises are being covered in different locations which include residences and offices".##
"During the search, evidence of huge suppression of income by the leading Film Production house compared to the actual box office collections has been unearthed. The company officials have not been able to explain the discrepancy of around Rs. 300 crore".##
"Evidence related to manipulation and under-valuation of share transactions of the production house amongst the film directors and shareholders, having tax implication of about Rs. 350 crore has been found and is being further investigated".##
"Evidence of cash receipts by the leading actress amounting to Rs 5 crore has been recovered. Further investigation is going on", the statement further read. ##
The statement also said that the team has seized a huge amount of digital data in the form of emails, Whatsapp chats, hard disks, etc which are under investigation. "Apart from this, non-genuine/bogus expenditure to related concerns by the leading producers/director having tax implication of about Rs. 20 crore has been detected. Similar findings have been made in the case of the leading actress also".##
At the office premises of the two talent management companies, a huge amount of digital data has been seized in the form of emails, WhatsApp chats, hard disks, etc which are under investigation. During the search, 7 bank lockers have been found which have been placed under restraint. Search is continuing in all the premises".##
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