The Income Tax Department had recently raided the houses of Taapsee Pannu and Anurag Kashyap, Vikas Bahl as well as producer Madhu Mantena.
The department was reportedly investigating people related to Phantom Films for tax evasion.
Some executives of the KWAN Talent Management agency were also raided. As per the latest NDTV report, the Income Tax Department said that they found irregularities worth crores of rupees. The department reportedly had issues with ₹ 5 crore in cash received by Taapsee Pannu and ₹ 300 crore income by Anurag Kashyap’s former production house – Phantom Films, which was co-founded by Vikramaditya Motwane, Vikas Bahl and producer-distributor Madhu Mantena and dissolved in 2018.
Lower left to right: Vikas Bahl, Vikramaditya Motwane
(Phantom Films, now dissolved)
NDTV report further said 28 locations in Mumbai and Pune were searched and WhatsApp chat logs, emails, documents and computer peripherals were seized. An HT report said that 7 bank lockers were also found and placed under restraint.
In a news release, the Income Tax Department commented on the matter saying, “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 ₹ 300 crore.
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.
Evidence of cash receipts by the leading actress amounting to ₹ 5 crore has been recovered. Further investigation is going on.
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.”
As reported by Hindustan Times, Maharashtra Cabinet minister Nawab Malik has alleged that the raids were an attempt to repress those who spoke against the Government!
“Central agencies like ED, CBI, and Income Tax are being used to target those who take an anti-government stand and speak against the policies of the regime. Both (Kashyap and Pannu) were raising their voices against the Modi government,” he said.
