Superstar Vijay, key Kollywood players face income tax searches1 min read . Updated: 06 Feb 2020, 09:21 PM IST
- Income Tax department seizes cash worth Rs77 crore in searches
- As per evidence detected during the search, it is estimated that the concealment in this case is likely to exceed Rs300 crore, says tax department
NEW DELHI : The Income Tax department said on Thursday it has conducted searches in a tax case involving a producer, actor, distributor and financier in the Tamil movie industry leading to seizure of unaccounted cash of about Rs77 crore.
The tax department said in a statement that the unaccounted cash was found from secret places located at Chennai and Madurai, purportedly belonging to the financier, but did not name the “major players" in the movie industry involved in the case. A tax official, who is privy to the development, said on condition of anonymity that the actor concerned was superstar Vijay. Calls made to Vijay's associates and family members for a response remained unanswered.
The CBDT statement said that the actor’s investment in immovable properties and remuneration received from the producer is under investigation in the present search.
About 38 premises of the group were covered in the search and survey actions spread over Chennai and Madurai and in certain places, searches are still on, the statement from the department said.
“Large number of property documents, promissory notes, post dated cheques taken as collateral security were recovered during the search and have been seized. As per evidence detected during the search, it is estimated that the concealment in this case is likely to exceed Rs300 crore," said the statement. The distributor involved in the case is also a builder.