Tax raids reveal hidden assets worth Rupees 30 crore from Mammooty, Mohanlal

Kochi: Income tax department have recently disclosed that, the Malayalam film superstars Mammooty & Mohanlal are having almost Rupees 30 crore of hidden assets, not having record worth the income tax department. In addition to this, the income tax officials discovered jeweler of about & cash of about Rs. 2.8 crore from the actors’ home. Undisclosed cash deposits in their bank accounts are being tabulated.

“This is only a preliminary estimate made by us according to the market value of these assets, & might change when we finalize our assessment. We hope to do this within 2 months,” a top I-T official told to the TOI reporter. The officials also confirmed that they have detected many precious antiques & priceless paintings from the premises of Mohanlal. Those items have been referred to the experts for its money evaluation.

The IT officials got some trace that, the actors have also invested for the real estate & assets in abroad. Investigators are also keeping an eye on the money transactions from the actors’ accounts in India & in abroad. They are also judging the investment done by the actors on their moveable & immovable properties in India & abroad through appropriate diplomatic channels.

The raids were done in the actors’ offices, residences, business establishments & other properties were conducted on July 22 & covered their income & assets for the financial year 2010-2011. The assessment regarding the discovered properties may extend till December 31, 2013. The IT officials refuted the charges on the actors based on the tip-offs provided by certain elements who have scores to be settled with the actors.

The raids were untimely done by the IT officials of Chennai, Kochi & Bangalore. Around 100 officials participated in this mission. Over 20 premises are owned by the superstars in Tamil Nadu, Karnataka & Kerala. The Director General of Income Tax (Investigation), Kochi E T Lukose in a Press release here said his unit had traced unnamed income’ to the tune of Rs 90 crore in the 23 searches carried out during 2010-11, as a whole.

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