Income-Tax Department conducting searches at the premises linked to Bollywood figures like Tapsee Pannu, director Anurag Kashyap and many others has set ripples in the industry.
Followed by which the I-T department of Thursday claimed that the officials have unearthed financial irregularities of over Rs 650 crore after it raided two film production companies, two talent management companies and the actress.
Refusing to disclose the names, the Central Board of Direct Taxes stated that there was also huge suppression of income compared to the actual box office collections. Sources also have it that I-T officials found cash bundles were found in the office of a production house.
The searches, part of a tax evasion probe against Phantom Films and carried out across 28 locations in Mumbai and Pune, also covered Reliance Entertainment group CEO Shibhasish Sarkar and some executives of celebrity and talent management companies KWAN and Exceed.
The officials added that further investigation is on, adding that raids are still being carried out. It can be noted that both Anurag Kashyap and Taapsee Pannu are outspoken critics of the government and took part in many protests against the Modi-led government.