IT Officials Found Discrepancy, Manipulation In Income Worth ₹650 Crore After Raids At Phantom Films
The Income Tax Department on Thursday revealed that discrepancy and manipulation of income was found during the raids at Tapsee Pannu, filmmaker Anurag Kashyap and others' properties in connection with Phantom Films
The
Income
Tax
Department
on
Thursday
revealed
that
discrepancy
and
manipulation
of
income
was
found
during
the
raids
at
Tapsee
Pannu,
filmmaker
Anurag
Kashyap
and
others'
properties
in
connection
to
the
production
house
Phantom
Films.
According
to
a
report
in
Hindustan
Times,
the
officials
have
revealed
that
they
observed
a
huge
suppression
of
income
compared
to
the
actual
box
office
collections.
They
also
said
the
production
house
staff
was
not
able
to
explain
the
discrepancy
of
around
₹300
crore.
The
officials
revealed
that
further
investigation
is
currently
underway
as
evidence
related
to
manipulation
and
under-valuation
of
share
transactions
of
Phantom
Films
was
found.
The
tax
implication
for
the
same
would
lead
to
about
₹350
crore.
More
evidence
of
cash
receipts
by
the
leading
actress
amounting
to
₹5
crore
has
also
been
recovered.
The
officials
found
seven
bank
lockers
that
have
been
placed
under
restraint,
after
the
tax
evasion
probe
was
carried
out
across
28
locations
in
Mumbai
and
Pune.
Apart
from
former
Phantom
Films
(dissolved
2018)
employees,
director-producer
Vikramaditya
Motwane,
producer
Vikas
Bahl
and
producer-distributor
Madhu
Mantena
(incomplete
sentence).
A
government
statement
also
revealed
properties
linked
with
Reliance
Entertainment
group
CEO
Shibasish
Sarkar
and
some
executives
of
celebrity
and
talent
management
companies
KWAN
and
Exceed
were
also
raided.
The
raids
have
been
called
out
by
the
opposition
party
as
well
as
a
group
of
netizens
with
hashtag
#ModiRaidsProFarmers.
Congress
leader
Rahul
Gandhi
said
that
the
raids
are
being
carried
out
against
those
who
are
pro-farmers.
Bollywood
celebrities
like
Swara
Bhasker,
Anubhav
Sinha
also
expressed
support
for
Anurag
and
Taapsee.
Meanwhile,
both
Taapsee
Pannu
and
Anurag
Kashyap
are
currently
in
Pune
for
the
shoot
of
their
upcoming
film
Dobaara.
According
to
reports,
both
were
also
questioned
by
the
income
tax
officials
while
in
Pune.