Rs 11 crore assets seized in searches on Kannada actors, producers: I-T dept

The statement, which said that prosecution cases for tax evasion will soon be filed, did not mention the names of any actors or producers.
Rs 11 crore assets seized in searches on Kannada actors, producers: I-T dept
Rs 11 crore assets seized in searches on Kannada actors, producers: I-T dept
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Three days after searches were conducted at properties owned by high-profile names in the Kannada film industry, the Investigation Wing of the Income Tax department released an official statement on Sunday saying it was “successful in unearthing evidences of suppression of income”. Officials said they seized undisclosed assets valued at Rs 11 crore, including Rs 2.85 crore cash and 25.3 kg of gold jewellery. The statement said that the Investigation Wing will soon be launching prosecution cases for tax evasion.

“Incriminating evidences found when put across to the persons involved resulted in admission of unaccounted income of about Rs 109 crore. There are many issues on which evidence has been found but no admission has been made: the detection of concealed income will be a much higher figure,” the statement said.

However, the statement did not have a mention of the stars – Sudeep, Yash, Puneeth Rajkumar and Shiva Rajkumar – whose properties were “raided”.

TNM had earlier reported that the I-T department action against the four Kannada actors and three film producers, Rockline Venkatesh, CR Manohar and Vijay Kiragandur, were concluded on Saturday.

The statement further said, “The search action covered film production companies, film producers, film financiers and actors. The searches have been successful in unearthing evidences of suppression of income from film production distribution and exhibition as well as evidence of unaccounted cash expenditure in film. In particular evidence of unaccounted theatre collections in cash and consequential evasion of taxes have been found.”

Search operations were conducted at 21 premises and surveys took place at five places by 180 officers and officials. Officials said the operations were preceded by “discreet enquiries” for more than three months before the search to identify the “modus operandi and the key players”.

The I-T department said evidence of unaccounted professional receipts by artists and cash investments in properties and jewellery through unaccounted income have been found in addition to evidence of suppression of income from sale of audio, digital and satellite rights.

Some of the evidence found, like diversion of cash collected by theatres, will be of interest to other revenue and enforcement agencies and will be duly shared with them, the statement said.


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