Hyderabad: Thursday’s massive search operation at the residences and offices of Tollywood producers Venkata Phanindra Reddy and K Narasimha Reddy ended with Income Tax (I-T) officials seizing asum of Rs 2.5 crore from the two parties.
Sources said that the close to 24 hourlong operation that began at 8.30am on Thursday concluded only at 5am on Friday after seven premises (in Gachibowli and Jubilee Hills) belonging to the producers were thoroughly searched. Apart from the cash amount, I-T sleuths also confiscated complete remuneration details for the entire cast of ‘The Businessman’, the producer duo’s upcoming Telugu flick, which will see actor Mahesh Babu romancing one Kajal Agarwal. The film is scheduled for a Sankranti release.
While Mahesh Babu’s residence on Road No 81 Jubilee Hills was also searched after I-T officials unearthed payment details for Rs 2 crore (towards the actor’s account) from the producers’ premises, the team failed to retrieve any cash or documents from the actor’s dwelling.
“He (Mahesh Babu) denied all charges levied against him by the search team. The actor insisted that he had disclosed all his earnings and had not received any payment from production house RR Movie Makers (run by Venkata) or from anybody else over and above what was already stated in his I-T records,” a department source said, adding that the matter was still under scrutiny. The documents seized from the producers’ houses and offices were being studied to verify the Tollywood superstar’s claim.
“Also, the department is now waiting to question Venkata Reddy who was not available on Thursday. His statement will be crucial in the case,” said an I-T official in the known of things. RR Movie Makers’ owner, sources said, was away in New Delhi although his brother Suresh Reddy, film partner Narasimha Reddy (who also runs KNR Constructions) and a few others from the production team were interrogated by I-T sleuths. “We will now have to see if the information that we have collected from these people is corroborated by Venkata Reddy. Only then can we take the matter forward and bring any action against the lead actor,” the official added.
Mahesh Babu, it is believed, received a payment of approximately Rs 2 crore from the producers of ‘The Businessman’. Sources alleged that while this amount had been credited to his account, the actor did not disclose the same in his annual returns. Thursday’s I-T search, carried out by a group of about 50 officials, was conducted to verify the charges.
Source: TOI
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