Mumbai Income Tax Dept Searches 12 Locations Linked To Panorama Studios, Film Producers Kumar Mangat Pathak & Vashu Bhagnani Over Suspected Tax Evasion
Mumbai: The Mumbai Income Tax Department on Monday conducted simultaneous searches at 12 locations linked to film production banner Panorama Studios and film producers Kumar Mangat Pathak and Vashu Bhagnani as part of a probe into suspected tax evasion and alleged overseas routing of funds. Separate teams of the Income Tax Department carried out the searches at multiple offices and premises in…
Mumbai: The Mumbai Income Tax Department carried out searches at 12 locations linked to film production company Panorama Studios and producers Kumar Mangat Pathak and Vashu Bhagnani on Monday. The probe is probing suspected tax evasion and the alleged routing of funds overseas. Multiple teams conducted searches at offices and premises in the city, targeting financial irregularities and potential tax law violations.
The department received intelligence suggesting large sums were allegedly remitted abroad under the guise of film production expenses and international distribution. Officials are scrutinizing transactions related to these transactions to ascertain whether funds were illicitly transferred overseas and if income was concealed to avoid taxation. This move is part of a broader investigation into alleged widespread financial irregularities.
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