The Income Tax officials searched renowned Bollywood producers Jayantilal Gada and Vinod Bhanushali on suspicion of tax evasion.
The Income Tax Department's Investigation Wing from Mumbai conducted searches on some renowned Bollywood producers on Wednesday. According to agency sources, searches were conducted on production firm Pen studios promoter Jayantilal Gada's offices and apartments.
Vinod Bhanushali was another producer whose office and home were searched. Bhanushali formerly worked with one of the country's leading music and production businesses. He recently established his own production company.
Income tax officers began searching early in the morning and continued until late at all locations. According to sources, the taxation office investigated the producers and their firms for possible tax avoidance.
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Gada and his production company are claimed to be involved in the creation or presentation of several big-budget films and the rights to certain epic mythical series. His firm, Pen Studios, presented RRR and co-produced Gangubai Kathiawadi, among other films.
Bhanushali is claimed to have produced two films, Janhit Mein Jaari and Atal, under his label Bhanushali Films.
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According to sources, the agency is looking into new production companies.
