Income Tax searches Mumbai premises linked to film figures

The Income Tax Department searched about 12 locations in Mumbai on September 28 that were linked to actor Rakul Preet Singh, film producer Vashu Bhagnani and Panorama Studios, according to media reports. The searches were part of an inquiry into suspected overseas transactions connected with film financing or expenses, the reports said. The operation does not establish that any person or company committed wrongdoing, and no final findings have been publicly announced. Reports said officials were examining financial records and documents to assess the nature and tax treatment of alleged overseas payments. The accounts described the inquiry as involving transactions linked to film-related activities, but did not identify specific payments, amounts, entities or tax provisions under examination. The Income Tax Department has not publicly detailed its evidence or conclusions in the material reviewed. The searches were reported at premises linked to Singh, Bhagnani and Panorama Studios. The reports did not establish the precise connection of each person or organization to the transactions being examined.