Raids At Film Producers' Residences: Undisclosed Income Of Rs 26 Cr Seized During Searches, Says CBDT

Raids At Film Producers' Residences: The Income Tax Department also said that undisclosed income exceeding Rs 200 crores has been detected.

Cash (File Photo)

Chennai: Undisclosed cash of Rs 26 crores and unaccounted gold jewelry exceeding Rs 3 crores have been seized during the searches at 40 premises related to producers, distributors and financiers across Tamil Nadu, said Income Tax Department on Saturday. The I-T Department started to raid the residence and offices on August 2.

In a release, as per ANI, Central Board of Direct Taxes (CBDT) said, “IT department carried out search and seizure operations on August 2 at almost 40 premises located in Chennai, Madurai, Coimbatore and Vellore in the cases of certain producers, distributors and financiers associated with the film Industry.”

“During the course of the search operations, several incriminating documents and digital evidence, relating to unaccounted cash transactions and investments have been seized. Secret and hidden premises have also been unearthed during the search,” it said.

IT dept carried out search & seizure operations on Aug 2 at almost 40 premises located in Chennai, Madurai, Coimbatore & Vellore, in the cases of certain producers, distributors, & financiers associated with the film Industry: Central Board of Direct Taxes

— ANI (@ANI) August 6, 2022

Further, CBDT on the undisclosed income said, “So far, undisclosed income exceeding Rs 200 crores has been detected. Undisclosed cash of Rs 26 crores and unaccounted gold jewellery exceeding Rs 3 crores have been seized. Further investigations are in progress.”

However, Income Tax Department did not name any producers or financiers who possessed the undisclosed income.

On Tuesday, the Income Tax Department raided the residences and offices of some of the top film financiers including Gnanavel Raja of Studio Green, Kalaipuli S Thanu of Kalaipuli Films International, SR Prabhu of Dream Warrior Pictures and Anbu Chezhiyan of Gopuram Films in Chennai.