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Sonu Sood Evaded Tax Worth Over Rs 20 Crore, Says I-T Department
Actor Sonu Sood is back in news but this time for a wrong reason! The Income Tax Department has said that the Simmba actor and his associates have evaded tax worth over Rs 20 crore. They made this revelation after conducting a search at his various premises in Mumbai for three days in a row.
As per a report in NDTV, the tax department said in a statement,"During the course of search at the premises of the actor and his associates, incriminating evidences pertaining to tax evasion have been found. The main modus operandi followed by the actor had been to route his unaccounted income in the form of bogus unsecured loans from many bogus entities."
"Investigations so far have revealed use of 20 such entries, the providers of which, on examination, have accepted on oath to have given bogus accommodation entries. They have accepted to have issued cheques in lieu of cash. There have been instances where professional receipts have been camouflaged as loans in the books of accounts for the purpose of evasion of tax. It has also been revealed that these bogus loans have been used for making investments and acquiring properties. The total amount of tax evaded unearthed so far, amounts to more than ₹ 20 crore," the statement further read.
The tax department said the actor's non-profit organization also raised Rs 2.1 crore from overseas donors with the help of a crowdfunding platform in violation of the law - Foreign Contribution (Regulation) Act - that governs such transactions, stated the report in NDTV.
According to a tweet by ANI, the main modus operandi followed by the actor had been to route his unaccounted income in the form of bogus unsecured loans from many bogus entities.
During the course of search at the premises of the actor &his associates, incriminating evidence pertaining to tax evasion found. The main modus operandi followed by the actor had been to route his unaccounted income in form of bogus unsecured loans from many bogus entities: CBDT
— ANI (@ANI) September 18, 2021
The I-T department had conducted a search operation on various premises of Sonu in Mumbai and a Lucknow-based real estate agency. It was reported that a land deal between Sonu's firm and the real estate agency was under the scanner.
"The simultaneous search operations carried out at various premises of an infrastructure group in Lucknow in which the actor has entered into a joint venture real estate project and invested substantial funds, have resulted in unearthing of incriminating evidences pertaining to tax evasion and irregularities in the books of account," the tax department said in its statement.
Since the last year and a half, Sonu Sood has been hailed as a real life hero for his philanthropic efforts to help the needy during the COVID-19 pandemic.
