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Rs 11-crore illegal assets seized in Karnataka tax raids
Bengaluru, Jan 6 (IANS) Searches by Income-Tax sleuths on Karnataka’s 4 super stars and 3 ace producers across the city from January 3-5 resulted in seizure of undisclosed assets valued at Rs 11 crore, including Rs 2.85 crore in cash and 25.3 kg gold jewellery, said the department on Sunday.
Incriminating evidence found during the searches resulted in the defaulters admitting to Rs 109 crore unaccounted income.
“As there are many issues on which evidence has been found but no admission made, the detection of concealed income will be a much higher figure,” said the I-T department’s investigation wing in a statement here.
The four sandalwood super stars are Shivaraj Kumar, his younger brother Punneth Kumar, Sudeep and Yash. The three film producers are Rockline Venkatesh, C.R. Manohar and B. Vijay Kiragandhur.
Super stars Shivaraj and Puneeth are the sons of Kannada matinee idol and thespian Rajkumar.
The searches were conducted under Section 132 of the Income-Tax Act, 1961, after warrants were issued to the actors and producers in advance.
The three-day search operation was carried out at 21 premises and surveys were conducted at 5 places by 180 officials from the department in the southern state and adjacent Goa.
In addition to the actors and producers, official and residential premises of film production companies and film financiers were also searched during the last three days.
Discreet inquiries made for over three months before the search identified the modus operandi and the key players.
“The searches led to evidences of suppression of income from film production, distribution and exhibition as well as evidence of unaccounted cash expenditure in films,” said the statement, adding unaccounted theatre collections in cash and tax evasion on them was also found,” said the statement.
Evidence of unaccounted professional receipts by artists, cash investments in properties and jewellery through unaccounted income was also found.
“The Income-Tax department appeals to the entertainment industry in Karnataka to follow prescribed accounting standards by recording all transactions in books of accounts and pay due taxes,” said the statement.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.