Nirmala Sitharaman on Bollywood linked IT raids: 'Please look back, it happened in 2013'

In comments seen as defending income tax raids on Bollywood actor Taapsee Pannu and filmmaker Anurag Kashyap, Finance Minister Nirmala Sitharaman on Friday said the same persons were raided in 2013 as well, but no issue was made out then as it is being done now.

Refusing to comment on individual cases, she said it is in the national interest to know if some evasion is happening. "First of all, I am not commenting on any A or B individual. (But) since the names were taken, (I want to say) the very same names were raided in 2013," she said in an interaction with journalists at IWPC (Indian Women's Press Corps). It "wasn't an issue (in 2013). It's an issue now," she said.

She, however, did not talk about the outcome of the 2013 raids and if any follow-up action was taken in the last seven years. Asked to comment on the raids, Sitharaman spoke of the 2013 raids not being an issue and they suddenly become one now.

"Answer it for the hypocrisy or answer it, saying from then this is happening till now, what's the matter (with now)," she said. "In the national interest, do we want to know if there is some evasion happening." Pannu and Kashyap are both known to be outspoken in their views on a range of issues. "I don't know. I am not commenting on a particular case. But if that relates to particular names I want to ask - should we raise questions whether there was a serious omission and commission or should we raise a question about 'oh it's happening now'?" Sitharaman said. "Please look back. It happened in 2013."

The Income Tax Department has detected financial irregularities of over Rs 650 crore after it raided two film production companies, two talent management companies, and a leading actress, the Central Board of Direct Taxes claimed on Thursday but did not take any names.

Income Tax Dept Issues Statement

The IT Department in their statement highlighted that they found seven bank lockers that have been placed under restraint. They also revealed that the production company was unable to explain the discrepancy of around Rs. 300 crore.

"During the search, evidence of huge suppression of income by the leading Film Production house compared to the actual box office collections has been unearthed. The company officials have not been able to explain the discrepancy of around Rs. 300 crore. Evidence related to manipulation and under-valuation of share transactions of the production house amongst the film directors and shareholders, having tax implication of about Rs. 350 crore has been found and is being further investigated. Evidence of cash receipts by the leading actress amounting to Rs 5 crore has been recovered. Further investigation is going on.  

Apart from this, non-genuine/bogus expenditure to related concerns by the leading producers/director having tax implication of about Rs. 20 crore has been detected. Similar findings have been made in the case of the leading actress also. At the office premises of the two talent management companies, a huge amount of digital data has been seized in the form of emails, WhatsApp chats, hard disks, etc which are under investigation. During the search, 7 bank lockers have been found which have been placed under restraint. Search is continuing in all the premises."

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(With PTI inputs)