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 action is understood to be focused on suspected financial irregularities and possible violations of tax laws.

According to sources, the department had received inputs suggesting that substantial sums of money were allegedly being remitted abroad under the pretext of film production, shooting expenses and overseas distribution.

Officials are examining the financial transactions associated with the suspected remittances to determine whether funds were routed overseas in violation of tax regulations and whether income was allegedly concealed to evade taxes.

The action against entities linked to Panorama Studios and the two prominent film producers comes amid an investigation into suspected large-scale financial irregularities. Further details are expected to emerge as the searches continue and officials examine the documents and records recovered during the operation.

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