The income-tax department, which this week conducted a search and seizure operation at various premises of Sonu Sood in Bombay and a Lucknow-based group of industries engaged in infrastructure development, has issued a press release to state that the actor evaded tax of Rs. 20 crore. A total of 28 premises spread over Bombay, Lucknow, Kanpur, Jaipur, Delhi and Gurgaon were covered in the search operations. During the course of search at the premises of Sonu and his associates, incriminating evidences pertaining to tax evasion were found.
According to the department, the modus operandi followed by the actor had been to route his unaccounted income in the form of bogus unsecured loans from many bogus entities. Investigations so far have revealed use of twenty such entries, the providers of which, on examination, have accepted on oath to have given bogus accommodation entries. They have accepted having issued cheques in lieu of cash. There have been instances where professional receipts have been camouflaged as loans in the books of account 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 crore.
The Charity Foundation, incorporated by the actor on 21st July, 2020, has collected donations to the tune of Rs. 18.94 crore from 1st April, 2021 till date, out of which it has spent around Rs. 1.9 crore towards various relief works, according to the I-T department. The balance of Rs. 17 crore has been found lying unutilised in the bank account of the Foundation till date. It is seen that funds to the tune of Rs. 2.1 crore have also been raised by the Charity Foundation from overseas donors on a crowdfunding platform in violation of FCRA regulations. The simultaneous search operations carried out at various premises of an infrastructure group in Lucknow, with which Sonu has entered into a joint venture agreement for a real estate project and has invested substantial funds, have resulted in unearthing of incriminating evidences pertaining to tax evasion and irregularities in the books of account. The search has revealed that the said group is involved in bogus billing of subcontracting expenses and siphoning off of funds. Evidences of such bogus contracts found so far are to the tune of over Rs. 65 crore. Evidence of unaccounted cash expenses, unaccounted sale of scrap and digital data evidencing unaccounted cash transactions have also been found. Further, it has emerged that the said infrastructure group/company has entered into dubious circular transactions to the tune of Rs. 175 crore with an infrastructure company based in Jaipur.
Investigations are being carried out to establish the full extent of tax evasion. Cash totalling Rs. 1.8 crore has been seized during the course of the search, and 11 lockers have been placed under prohibitory order. The search operation is still continuing, and further investigations are in progress.