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EntertainmentIncome tax dept finds discrepancy worth Rs 650 crore in records of...

Income tax dept finds discrepancy worth Rs 650 crore in records of Pannu, Kashyap

The Income Tax department will continue the search and the suspects can again be questioned tomorrow, including Taapsee and Anurag

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The income tax department said on 4 March that it had found discrepancy and manipulation of income during the searches at various places linked to actress Tapsee Pannu, filmmaker Anurag Kashyap and his partners who launched the now dissolved production house Phantom Films. There was huge suppression of income compared to the actual box office collections, the IT department further said.

Giving details about the searches, the officials said that the production house staff was not able to explain discrepancy of around Rs 300 crore.

The officials also said that they found evidence related to manipulation and under-valuation of share transactions of Phantom Films amongst the film directors and shareholders, having tax implication of about Rs 350 crore. Evidence of cash receipts by the leading actress amounting to Rs 5 crore has also been recovered, they further said.

The officials added that further investigation is on, adding that raids are still being carried out.

The searches, part of a tax evasion probe against Phantom Films, were carried out across 28 locations in Mumbai and Pune on 3 March, government said. Properties linked with Reliance Entertainment group CEO Shibhasish Sarkar and some executives of celebrity and talent management companies KWAN and Exceed were also raided. During the search, seven bank lockers were found which have been placed under restraint, the release said.

The others searched include some Phantom Films production house employees, which was dissolved in 2018, director-producer Vikramaditya Motwane, producer Vikas Bahl and producer-distributor Madhu Mantena.

Both Pannu and Kashyap, who are shooting in Pune, were questioned by the income tax officials. They are collaborating in the upcoming film Dobaara.

Pannu’s last tweet was on 1 March, in which she strongly spoke about the Supreme Court asking a man accused of repeated rape whether he was willing to marry the woman. Kashyap, meanwhile, has been quiet on Twitter in recent time. He visited the Jawaharlal Nehru University (JNU) and Shaheen Bagh during the anti-CAA protests last year.

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