Bollywood actor Sonu Sood has evaded taxes of over ₹ 20 crore, the income tax department said in a statement on Saturday, after visiting his Mumbai premises for three days in a row for a search.
“During the course of search at the premises of the actor &his associates, incriminating evidence pertaining to tax evasion found. The main modus operandi followed by the actor had been to route his unaccounted income in form of bogus unsecured loans from many bogus entities,” Central Board of Direct Taxes (CBDT) said.
The tax department said Mr Sood’s non-profit also raised Rs 2.1 crore from overseas donors using a crowdfunding platform in violation of the law – Foreign Contribution (Regulation) Act – that governs such transactions.
The CBDT said that the foundation has collected donations worth ₹18.94 crore from April 1, 2021, till date, out of which it has spent around ₹1.9 crore towards various relief work while the balance of ₹17 crore has been found lying unutilized in the bank account of the foundation.
“It is seen that funds to the tune of ₹2.1 crore have also been raised by the charity foundation from overseas donors on a crowdfunding platform in violation of (Foreign Contribution Regulation Act) FCRA regulations,” the CBDT statement added.
The I-T department had also conducted raids at various premises of the real estate firm, with whom Sood has entered into a joint venture real estate project and invested substantial funds. The raids, the CBDT statement said, have resulted in the unearthing of incriminating evidence pertaining to tax evasion and irregularities in the books of account.
It said the company is involved in bogus billing of subcontracting expenses and siphoning off of funds. Evidence of such bogus contracts worth ₹65 crore has been found so far apart from unaccounted cash expenses, unaccounted sale of scrap and digital data evidencing unaccounted cash transactions.
“Further, it has been unearthed that the said infrastructure group has entered into a dubious circular transaction to the tune of ₹175 crore with an infrastructure company based in Jaipur. Further investigations are being carried out to establish the full extent of tax evasion. Cash ₹1.8 crore has been seized during the search (at a company) and 11 lockers have been placed under prohibitory order,” it said.