New Delhi: The raids carried out by the Earnings Tax Division in relation to a tax evasion probe on the properties of filmmaker Anurag Kashyap and actress Taapsee Pannu and director-producer Vikas Bahl on Wednesday (March 3) revealed a discrepancy of round Rs 350 crore.
As per preliminary studies, the corporate officials failed to explain this discrepancy.
The Earnings Tax division in an assertion on Thursday stated: “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.”
The tax evasion probe was initiated towards the now shut manufacturing home Phantom Movies.
“In the course of the search, proof of big suppression of earnings by the main Movie Manufacturing home in comparison with the precise field workplace collections has been unearthed. The corporate officers haven’t been capable of clarify discrepancy of round Rs 300 crore.”
“Proof of money receipts by the leading actress amounting to Rs 5 crore has been recovered. Additional investigation is occurring. Aside from this, non-genuine/bogus expenditure to associated issues by the main producers/director having tax implication of about Rs. 20 crore has been detected. Comparable findings have been made within the case of the main actress additionally,” the assertion learn.
Additionally, all accessible digital information like emails, WhatsApp chats, arduous disks and many others have been seized and round seven lockers have been put underneath restraint and the search continues to be ongoing on the premises.
The I-T raid was additionally carried out at properties linked to Madhu Mantena’s KWAN Expertise Administration Company in Mumbai. Round 28 premises together with residences and places of work are being searched. Two main movie manufacturing firms, a number one actress and two Expertise Administration firms in Mumbai are underneath scanner.