Bollywood superstar Amitabh Bachchan and others are under the Income-Tax department scanner after their names emerged in the Panama Papers case in April 2016.
Bollywood superstar Amitabh Bachchan and others are under the Income-Tax department scanner after their names emerged in the Panama Papers case in April 2016. In July, former Pakistan Prime Minister Nawaz Sharif was ousted from the post for his involvement in the case. Since then the Indian tax authorities have been criticised for lack of action in the Panama Papers case here, reported the Times of India. Now, it emerges that a top level officer has been sent to the British Virgin Islands, a tax haven in the Caribbean, to gather information. A senior official told ToI that Bachchan has refused the allegation that he owns any firms mentioned in the papers. The I-T dept now has to seek more information and has therefore sent a Central Board of Direct Taxes officer to the region. Bachchan has said that remittances overseas were according to the Indian regulations and denied any links with the firms in the document, according to the report.
The investigation in the Panama Papers case was carried out by the Indian Express and the International Consortium of Investigative Journalists (ICIJ), which had shared an offshore law firm Mossack Fonseca’s secret files. The data mentioned over 500 Indian names including Bachchan and his daughter-in-law and actress Aishwarya Rai Bachchan.
DLF owner KP Singh and about nine of his family members, promoters of Apollo Tyres and Indiabulls, Gautam Adani’s elder brother Vinod Adani were also included in the list. According to IE, West Bengal BJP leader Shishir Bajoria and former Loksatta Party chief Anurag Kejriwal were also mentioned. The Panama papers are 11.5 million documents spanning the period between 1977 and 2015 and include 140 political figures from 50 countries, ToI said.