Bollywood Actor Sonu Sood Evaded Rs 20 Crores Taxes, Says Mumbai Income Tax Department

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Recently, on the 16th of September, the Mumbai Income Tax Department carried out a search at the residence and offices of the Bollywood actor Sonu Sood. After the intensified search for three days, on Saturday the IT department released a statement. As per the investigation, the actor also a non profit firm which raised an amount of Rs. 2.1 crores. The profitable funds were received from donors abroad using crowdfunding platforms, which is a violation of the Foreign Contribution (Regulation) Act. The body governs all the crowdfunding transactions from abroad.

After an intense search of three days, the Mumbai Income Tax Department, on the 18th of September, released an official statement. The issued statement read, “During the course of search at the premises of the actor and his associates, incriminating evidences pertaining to tax evasion have been found. The main modus operandi followed by the actor had been to route his unaccounted income in the form of bogus unsecured loans from many bogus entities.” It further read, “Investigations so far have revealed use of 20 such entries, the providers of which, on examination, have accepted on oath to have given bogus accommodation entries. They have accepted to have issued cheques in lieu of cash. There have been instances where professional receipts have been camouflaged as loans in the books of accounts for the purpose of evasion of tax. It has also been revealed that these bogus loans have been used for making investments and acquiring properties. The total amount of tax evaded unearthed so far, amounts to more than Rs. 20 crores.”

In addition, the investigation also revealed that the actor has raised a total of Rs. 18 crores from his non profit Sood Charity Foundation. The foundation was launched in 2019 July for welfare works during the Wuhan virus pandemic. However, of the raised money, only Rs. 1.9 crores have been used for relief works, the remaining amount of close to Rs. 16.9 crores are unused.

The Tax Department started the tax evasion investigation after Sonu Sood’s recent deal with the Lucknow based real estate firm. Recently, the actor signed a business deal with the Lucknow based firm, which is now under scrutiny.

In regard to this, the Tax Department officials said, “The simultaneous search operations carried out at various premises of an infrastructure group in Lucknow in which the actor has entered into a joint venture real estate project and invested substantial funds, have resulted in unearthing of incriminating evidences pertaining to tax evasion and irregularities in the books of account.”

Speaking about the Lucknow based company, the IT officials said, the Lucknow company is involved in bogus billing of subcontracting expenses and diverting funds. The amount close to Rs. 65 crores are found from such bogus Billings.

It is to be noted, the tax evasion investigation against the Bollywood actor came at a time when he announced a tie up with the Delhi Chief Minister Arvind Kejriwal’s Aam Aadmi Party (AAP.)

The IT investigation incident against actor Sonu Sood has raised political sparks, especially between the Bharatiya Janata Party (BJP,) the Maharashtra Government (Shiv Sena Party) and the AAP. The oppositions are questioning the timing of the searches at Sonu Sood’s home.

The BJP has said there is no link between Mr Sood’s tie up with AAP and the searches.

However, the criticism against the BJP regarding the timing of the investigation is pouring from the AAP and Shiv Sena leaders

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