The Income Tax authorities have unearthed a sum of Rs 16 crore of concealed income during searches on the seven premises of diamond merchant and film producer Bharat Shah in Mumbai, I-T officials said here on
Friday.
According to the I-T officials, searches were conducted on Bharat Shah's seven premises recently and they revealed concealed income to the tune of around Rs 16 crore.
The searches began on March 13 by a team of about 50 officers. The offices owned by Shah in Mehta Bhavan at Opera House and his apartment in Swapna Lok building in Napean Sea Road were among the premises
that were searched.
It may be mentioned that Shah has produced many hit movies including blockbuster film `Devdas' starring Shahrukh Khan, Madhuri Dixit and Aishwarya Rai.
I-T raids yield unconcealed income worth Rs 16 cr from Bharat Shah
Friday, March 21, 2008 18:01 IST
