Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Phone Reviews
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Phone Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Entertainment News / I-T Department claims to have proof against Kashyap, Pannu
  • Entertainment

    I-T Department claims to have proof against Kashyap, Pannu

    Priyanka Bansal
    Written by
    Priyanka Bansal
    Twitter
    Last updated on Mar 05, 2021, 11:24 am
    I-T Department claims to have proof against Kashyap, Pannu
  • The Income Tax Department has unearthed irregularities amounting to Rs. 650 crore after it conducted raids at two film production companies, two talent management companies, and properties of a leading actress.

    Without taking names, the Central Board of Direct Taxes (CBDT) said it has evidence of tax evasion.

    Properties of actress Taapsee Pannu, filmmaker Anurag Kashyap, and others were raided Wednesday onwards.

    Here's more.

  • In this article
    CBDT's spokesperson didn't mention Kashyap or Pannu Evidence of manipulation found, matter being investigated: Ahluwalia Raids were conducted at properties linked to Phantom Films What is Phantom Films? Bollywood was divided over the I-T raids
  • Statement

    CBDT's spokesperson didn't mention Kashyap or Pannu

  • On the development, Surabhi Ahluwalia, official spokesperson of the CBDT said, "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 a discrepancy of around Rs. 300 crore."

    Ahluwalia added that the I-T Department also has evidence confirming manipulation.

  • Quote

    Evidence of manipulation found, matter being investigated: Ahluwalia

  • "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 Rs. 350 crore has been found and is being further investigated," Ahluwalia added.

  • Raids

    Raids were conducted at properties linked to Phantom Films

    Raids were conducted at properties linked to Phantom Films
  • The department also claims to have found "evidence of cash receipts by the leading actress amounting to Rs. 5 crore."

    Apart from Kashyap and Pannu, the raids were conducted at the properties of Vikas Bahl, Madhu Mantena, Vikramaditya Motwane, and people related to now-dissolved Phantom Films.

    Mantena's talent management company, Kwan, is also under scrutiny. Exceed Entertainment is also facing probe.

  • Background

    What is Phantom Films?

  • Phantom Films was established by Kashyap, Motwane, Mantena, and Bahl in 2011 but was dissolved in 2018 after sexual harassment charges were leveled against Bahl.

    In March 2015, Reliance Entertainment had bought a 50% stake in the firm.

    Phantom Films has now become a joint venture having Mantena's new firm Mad Man Ventures and Reliance Entertainment as constituents with both parties holding 50%.

  • Social media

    Bollywood was divided over the I-T raids

    Bollywood was divided over the I-T raids
  • Amidst the questioning and the raids, Swara Bhasker and filmmaker Anubhav Sinha took to Twitter to extend support to Pannu and Kashyap.

    Meanwhile, Kangana Ranaut called it 'karma' pointing toward the multiple #MeToo accusations leveled against the members of Phantom and Kwan, most prominent one being against Bahl by a former employee.

    It's notable that Ranaut's path-breaking movie Queen was produced by Phantom.

  • Bollywood News
  • Income Tax Department
  • Anurag Kashyap
  • Taapsee Pannu
  • Vikas Bahl
  •  
Latest News
  • Google cancels April Fools' Day pranks for second consecutive year
    Google cancels April Fools' Day pranks for second consecutive year
    Business
  • SRK, John Abraham to begin shooting 'Pathan' action sequences tomorrow
    SRK, John Abraham to begin shooting 'Pathan' action sequences tomorrow
    Entertainment
  • COVID-19: Vaccination for people above 45 years starts
    COVID-19: Vaccination for people above 45 years starts
    India
  • Indian Premier League: Who was SRH's breakout performer last season?
    Indian Premier League: Who was SRH's breakout performer last season?
    Sports
  • West Bengal election: Suvendu Adhikari's convoy attacked in Nandigram
    West Bengal election: Suvendu Adhikari's convoy attacked in Nandigram
    Politics
Related Timelines
  • Anurag Kashyap posts message for "haters" after Income Tax raids
    Anurag Kashyap posts message for "haters" after Income Tax raids
    Entertainment
  • 'Not so sasti anymore': Taapsee Pannu on Income Tax raids
    'Not so sasti anymore': Taapsee Pannu on Income Tax raids
    India
  • Income Tax raids at homes of Vikramaditya Motwane, Vijay Subramaniam
    Income Tax raids at homes of Vikramaditya Motwane, Vijay Subramaniam
    Entertainment
  • Income Tax raids at Taapsee Pannu, Anurag Kashyap's properties
    Income Tax raids at Taapsee Pannu, Anurag Kashyap's properties
    Entertainment
Trending Topics
YouTube Hollywood News Bollywood News Batman Game of Thrones Marvel Comics Avengers Neha Kakkar Big Bang Theory X-Men Shloka Mehta Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Entertainment news?

Subscribe to stay updated.

Entertainment Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Xiaomi Virat Kohli
Rohit Sharma Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Rahul Gandhi Yoga Honda
Batman Football News BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Apple Royal Challengers Bangalore Toyota
Fashion Tips Game of Thrones Mercedes Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers
Neha Kakkar Big Bang Theory X-Men TATA
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021