The Income Tax Department on Thursday continued the search and survey operations against two leading film production companies, a leading actress and two Talent Management companies in Mumbai.
CBDT spokesperson Surabhi Ahluwalia, in a statement, said that the search operation is being carried out at 28 premises in Mumbai, Pune, Delhi and Hyderabad.
“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 crore,” the statement said.
CBDT said that 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 crore has been found and is being further investigated.
Evidence of cash receipts by the leading actress amounting to Rs 5 crore has been recovered. Further investigation is going on, it added.
“Apart from this, non-genuine/bogus expenditure to related concerns by the leading producers/director having tax implication of about Rs. 20 crore has been detected. Similar findings have been made in the case of the leading actress also,” the statement added.
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.
(Edited by : Aditi Gautam)
First Published: Mar 4, 2021 6:29 PM IST
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