IT depart conduct searches on Anurag Kashyap and Taapsee Pannu, finds income discrepancy worth Rs 650 crore

After two days of searches in Mumbai and Pune, the Income-Tax department has detected huge amounts of cash and illegal transactions by Taapsee Pannu and Anurag Kashyap.

The I-T officials claim that during their investigation they recovered "evidence of cash receipts by the leading actress (Taapsee Pannu) amounting to Rs 5 crore." The probe agency, which raided the official and residential premises of Anurag Kashyap, also claims to have found bogus expenditure of the director having tax implication of about Rs 20 crore.

Shareholders of Phantom Films are suspected of income tax evasion of around



Rs 600 crore. The shareholders carried out a stake sale of Phantom Films and they didn't pay income tax from the money they generated from that.

The I-T officials also suspect that they have created bogus expenditure and fake bills. Data has been deleted from Anurag Kashyap's phone and the deletion is visible. Anurag was one of the shareholders of Phantom Films, which was dissolved in October 2018.

On Thursday, the IT officials initiated search and survey operations on Phantom Films, Reliance Entertainment, Taapsee Pannu, Kwan Talent Management and Exceed Entertainment for alleged tax evasion.