Mumbai, Sep 13 (UNI) The Income Tax raids on 20 establishments of three leading film production and distribution companies here, having big stakes in Bollywood, continued for the second day today, even as tax officials are said to have stumbled upon some documents, indicating tax evasion, during their on-going operation.
''The raids are still on. We have seized some documents, which are being examined by our officials,''highly-placed official told UNI this evening.
When asked how long the raids would continue, the official said, ''They are still on. It depends on the documents that we are scanning.'' In reply to a question whether they were probing the money-laundering angle, which prompted the authorities to turn its heat on the three companies, the official replied, ''We are looking at Various angles including violation of the double taxation agreement between two countries. But at this juncture, I can't tell you anything else.'' The IT raids on the premises of K Sera Sera, Sri Ashtavinayak Cine Vision and Eros Multimedia are on since yesterday morning.
Sri Ashtavinayak's Shahid-Kareena starrer 'Jab We Met' is all set for release.
Eros International is said to have brought the world-wide rights for the Shahrukh Khan-starrer, Om Shanti Om, which is slated for Novermber 10 release.
K Sera Sera has produced one of the biggest hits of the year, 'Partner'.