Discrepancy worth Rs 350 cr uncovered

New Delhi, Mar 05: The raids conducted by the Income Tax Department in relation to a tax evasion probe on the properties of filmmaker Anurag Kashyap and actress Taapsee Pannu and director-producer Vikas Bahl on Wednesday (March 3) revealed a discrepancy of around Rs 350 crore.
As per initial reports, the company officials failed to explain this discrepancy. The Income Tax department in an statement on Thursday said: “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.” The tax evasion probe was initiated against the now shut production house Phantom Films.

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