IT Sources said that three big-budget movies were picked for the searches on suspected suppression of income, loss or faulty auditing and even suspected converting black money into white.
The Income Tax Department has picked three big budget movies in the industry. The producers, actors and distributor of the movies KGF, Villain and yet to be released Natasarvabhouma.
The Income Tax raids continue on the third day at actor Yash’s residence.
According to the IT Department sources, searches at the premises of Sandalwood actors and producers concluded at all other premises.
The IT sleuths were searching the premises of actors Shivarajkumar, Puneet Rajkumar, Sudeep, Yash and producers Rockline Venkatesh, C R Manohar, Vijay Kiragandhur and Jayanna.
The IT sleuths are searching the premises belonging to the actors and producers for suspected suppression of income and loss.
Sources said sleuths are verifying papers on the difference in the cost of production, distribution and collection. Searches, which also included premises of producers Vijay Kiragandhur and C R Manohar and distributor Jayanna.
The teams searched 28 locations in the city and on the outskirts.
A source said that the houses of the actors were searched since there was credible information that they opted for a share in the collection.
This apart, except Yash, all three other actors Shivrajkumar, Puneet Rajkumar and Sudeep have their own production houses.
While some have produced movies, Puneet’s firm has been into producing TV serials. The searches were conducted at the house of Shivarajkumar in Nagawara, Puneet’s house in Sadashivanagar, Sudeep’s house in JP Nagar,
Yash’s house in Hosakerehalli and Rockline Venkatesh’s house in West of Chord Road.
Reacting to searches at his house in JP Nagar, actor Sudeep told reporters that he believed the raids were aimed at the investments made on films.
“Though I have no idea (about the searches), I believe it is aimed at the producers. We are co-operating with the formalities and searches.
Since we (the actors) are connected with the films, searches are also being conducted on our homes. Any I-T raid cannot be personal, it is purely to do with the economy. I will be worried only if I have done something wrong,’’ he said.