The Income Tax Department has said that Sonu Sood evaded taxes of over Rs. 20 crore.
The actor had been under investigation with his Mumbai home being searched over three days, according to reports.
In a statement, the Central Board of Direct Taxes (CBDT) said, “During the course of search at the premises of the actor and his associates, incriminating evidence pertaining to tax evasion have been found. The main modus operandi followed by the actor had been to route his unaccounted income in the form of bogus unsecured loans from many bogus entities.”
“Investigations so far have revealed use of 20 such entries, the providers of which, on examination, have accepted on oath to have given bogus accommodation entries. They have accepted to have issued cheques in lieu of cash. There have been instances where professional receipts have been camouflaged as loans in the books of accounts for the purpose of evasion of tax. It has also been revealed that these bogus loans have been used for making investments and acquiring properties. The total amount of tax evaded unearthed so far, amounts to more than ₹ 20 crore,” the tax department said.
It further stated, “It is seen that funds to the tune of ₹2.1 crore have also been raised by the charity foundation from overseas donors on a crowdfunding platform in violation of (Foreign Contribution Regulation Act) FCRA regulations.”
Sources claim that a recent deal between Sood’s company and a Lucknow-based real estate firm is under the scanner. “The simultaneous search operations carried out at various premises of an infrastructure group in Lucknow in which the actor has entered into a joint venture real estate project and invested substantial funds, have resulted in unearthing of incriminating evidences pertaining to tax evasion and irregularities in the books of account,” the tax department said in the statement today.
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