The Revenue Tax Division on Thursday issued a press release a day after they raided the houses and workplaces of Bollywood actor Taapsee Pannu and filmmaker Anurag Kashyap in addition to his companions who launched the now-shuttered manufacturing home Phantom Movies, officers stated.
The IT Division of their assertion highlighted that they discovered seven financial institution lockers which were positioned below restraint. In addition they revealed that the manufacturing firm was unable to clarify the discrepancy of round Rs. 300 crore. Learn full assertion under —
“The Revenue Tax Division is finishing up search and survey operations which began on 03.03.2021 on two main movie manufacturing corporations, a number one actress and two Expertise Administration corporations in Mumbai. The search operation is being carried out at Mumbai, Pune, Delhi, and Hyderabad. The group is especially engaged within the enterprise of Manufacturing of Movement Photos, net Sequence, performing, path, and expertise Administration of celebrities and different artists. A complete of 28 premises are being lined in several areas which embody residences and workplaces.
Through the search, proof of big suppression of revenue by the main Movie Manufacturing home in comparison with the precise field workplace collections has been unearthed. The corporate officers haven’t been in a position to clarify the discrepancy of round Rs. 300 crore. Proof associated to manipulation and under-valuation of share transactions of the manufacturing home amongst the movie administrators and shareholders, having tax implication of about Rs. 350 crore has been discovered and is being additional investigated. Proof of money receipts by the main actress amounting to Rs 5 crore has been recovered. Additional investigation is happening.
Other than this, non-genuine/bogus expenditure to associated issues by the main producers/director having tax implication of about Rs. 20 crore has been detected. Related findings have been made within the case of the main actress additionally. On the workplace premises of the 2 expertise administration corporations, an enormous quantity of digital information has been seized within the type of emails, WhatsApp chats, arduous disks, and many others that are below investigation. Through the search, 7 financial institution lockers have been discovered which have been positioned below restraint. Search is constant in all of the premises.”
The searches, a part of a tax evasion probe towards Phantom Movies and carried out throughout 30 areas in Mumbai and Pune, additionally lined Reliance Leisure group CEO Shibhasish Sarkar and a few executives of superstar and expertise administration corporations KWAN and Exceed, they stated. The others searched embody some Phantom Movies manufacturing home staff, which was dissolved in 2018, and its then promoters Kashyap, director-producer Vikramaditya Motwane, producer Vikas Bahl and producer-distributor Madhu Mantena.
(With PTI inputs)