T-Series CMD grilled for ‘tax evasion’, Income Tax searches on properties
| Sunday | 2nd December, 2018
Bhushan Kumar has built a huge empire in the entertainment industry and has been behind successful ventures as producer of blockbuster movies.
More details on tax evasion would emerge later after all seized documents are examined, said a senior officer.
Bhushan Kumar’s interrogation started late Saturday, soon after some employees were questioned about their involvement in benami transactions as properties were found invested in their name, both in India and abroad.
“Employees have recorded statement with the I-T officials stating they had nothing to do with the properties and those were investments made by Kumar,” the source said.The inventory of properties, identified by I-T authorities, is still being prepared.
Documents of several benami properties in India have also been recovered along with evidence of inflated expenditure booked through bogus billings.Officials of the I-T units in Delhi and Mumbai have seized bundles of documents and other electronic devices revealing details of hundreds of crores of tax evaded unaccounted income (black money) shipped out of India through benami entities in tax havens, a source said.
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