The Income Tax Department has unearthed untaxed income of approximately Rs 350 crores in a search and survey operation at the premises of Bollywood actress Tapsee Pannu and Director Anurag Kashyap.
The IT Department started the search and survey operation on March 3, 2021 on two leading film production 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 includes 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 discrepancy of around Rs 300 crores.
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 crores has been found and is being further investigated.
Evidence of cash receipts by the leading actress amounting to Rs 5 crores has been recovered. Further investigation was going on.
Apart from this, non-genuine/bogus expenditure to related concerns by the leading producers/director Anurag Kashyap having tax implication of about Rs 20 crore has been detected. Similar findings have been made in the case of the leading Tapsee Pannu also.
At the office premises of the two talent management companies, huge amount of digital data has been seized in the form of emails, whatsapp chats, hard disk 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.