Income Tax department claims discrepancies worth Rs. 650 crore in raids against Anurag Kashyap, Taapsee Pannu

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The Income Tax department has claimed discrepancies worth Rs. 650 crore during their raids against filmmaker Anurag Kashyap and actor Taapsee Pannu. The IT department issued an extraordinary statement to also claim that Taapsee had accepted Rs 5 crore in cash. The IT department also said that its officials had discovered bogus expense claims made by the ‘leading producers/director having tax implications of about Rs. 20 crore.’

Anurag Kashyap

“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 Rs. 300 crore,” said a statement by the IT department.

It also claimed to have found evidence in connection with alleged manipulation and under-valuation of share transactions of the production house amongst the film directors and shareholders, having tax implications of about Rs 350 crore.

Kashyap was one of the co-founders of Phantom Films, which was dissolved in 2018 after MeToo allegations against one of his business partners.

Earlier it was reported that the raids were being conducted only in Pune and Mumbai, but the IT department on Thursday confirmed that some premises were raided even in Delhi and Hyderabad.

The IT department, which conducted raids on at least 28 premises in Mumbai and Pune linked to Taapsee, Kashyap, Kwan Talent Management and Exceed Entertainment for alleged tax evasion, said, “Evidence of cash receipts by the leading actress (Taapsee) amounting to Rs 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 Rs. 20 crore has been detected. Similar findings have been made in the case of the leading actress also,” it added.

Those engaged in IT raids are believed to have seized a ‘huge amount of digital data’ in the ‘form of emails, WhatsApp chats, hard disk etc which are under investigation.’ “During the search, 7 bank lockers have been found which have been placed under restraint. Search is continuing in all the premises,” the statement by the IT department concluded.