AK V/S I-T: CRORES HIDDEN’

‘

The I-T Department claims to have unearthed irregularities worth crores of rupees during the ongoing raids on filmmaker Anurag Kashyap, actor Taapsee Pannu and others. The claim will serve to counter the allegation that the government had cracked down on the two celebs and their associates because they happen to be the biggest critics of the government

"There is evidence of huge suppression of income by the leading film production house, compared to their actual box office collections," the statement from the CBDT, the administrative body of the IT Department, has claimed. "The company officials have not been able to explain discrepancy of around Rs 300 crore," it said.

Evidence related to "manipulation and under-valuation" of share transactions of the production house amongst the film directors and shareholders, with a tax implication of about Rs 350 crore; this matter is being further investigated, it alleged.

"Evidence of cash receipts by the leading actress amounting to Rs 5 crore has been recovered and further investigation is on," the CBDT claimed.

Also, "non-genuine or bogus expenditure" ascribed to related concerns by the leading producers and directors having tax implication of about Rs 20 crore has been detected, the statement said.

"Similar findings have been made in the case of the leading actress also," it alleged.

The statement added that "huge amount" of digital data has been seized in the form of emails, WhatsApp chats, hard disk from the offices of the two talent management companies.

A total of seven bank lockers were found and placed under restraint, the CBDT statement said.

The CBDT did not take any names either in its statement. Official sources, however, identified the entities raided as Taapsee Pannu and the four former promoters of Phantom Films -- Kashyap, director-producer Vikramaditya Motwane, producer Vikas Bahl and producer-distributor Madhu Mantena.