The four-day search and seizure operations on personalities connected to the Kannada film industry have led to unaccounted income of ₹109 crore, the I-T Department said in a statement on Sunday. However, it said: “The searches yielded incriminating evidence on many issues, but no admission has been made. The detection of concealed income will be much higher.”Officials seized ₹11 crore worth undisclosed assets, including ₹2.85 crore in cash and 25.3 kg gold jewellery. The raids covered film production companies, film producers, film financiers, and actors, the statement said. “The searches have been successful in unearthing evidence of suppression of income from film production, distribution and exhibition, as well as evidence of unaccounted cash expenditure in film production,” the statement said.

Source: The Hindu January 07, 2019 05:15 UTC