Discrepancies of about Rs 300 crore, says I-T Dept on raids at Taapsee Pannu, Anurag Kashyap, others

New Delhi: A day after conducting raids at 28 different locations, the Income Tax Department on Thursday issued a statement on the searches conducted at the properties of actor Taapsee Pannu, filmmaker Anurag Kashyap, producer Vikas Bahl and others. It said that discrepancies to the tune of Rs 300 crore have been found.

Searches were also conducted at locations associated with film producer Madhu Mantena.

“Evidence related to manipulation, under-valuation of share transactions of the production house, having tax implication of about Rs 350 crore found and is being further investigated. Evidence of cash receipts by the leading actress (Pannu) amounting to Rs 5 crore has been recovered,” the Central Board of Direct Taxes (CBDT) said.

During the search, evidence of huge suppression of income compared to the actual box office collections has been unearthed. The officials have not been able to explain the discrepancy of around Rs 300 crore, said Surabhi Ahluwalia, spokesperson, Commissioner of Income Tax (Media & Technical Policy), CBDT.

“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 ₹ 350 crore has been found and is being further investigated,” it further said.

“Evidence of cash receipts by the leading actress amounting to ₹ 5 crore has been recovered. Further investigation is going on,” the department said, without naming Ms Pannu.

“Apart from this, non-genuine/bogus expenditure to related concerns by the leading producers/director having tax implication of about ₹ 20 crore has been detected. Similar findings have been made in the case of the leading actress also,” it added.

WhatsApp chat logs, emails, documents and computer peripherals were also seized from various locations.