The Income Tax officials have conducted raids for two days and they found a huge amounts of cash and illegal transactions by Taapsee Pannu and Anurag Kashyap. The IT officials claim that during their investigation they have recovered "evidence of cash receipts by the leading actress (Taapsee Pannu) amounting to Rs 5 crore."

According to the reports, Taapsee had accepted Rs. 5 crore in cash and her endorsement deals and film signing amounts are under I-T scanner. Taapsee recorded a detailed statement on 4th March. The IT sleuths suspect that some of the data has been deleted from her mobile. However, the officials are taking the help from experts to retrieve the entire data.

It is said that the shareholders of Phantom Films are suspected of income tax evasion of around Rs. 600 crore. Anurag Kashyap was one of the shareholders of Phantom Films, which was dissolved in October 2018.

According to the reports, the Phantom Films shareholders have created bogus expenditure and fake bills. Anurag Kashyap deleted some of the data from his phone and it's clearly visible.

The IT department said that, “The group is mainly engaged in the business of production of motion pictures, web series, acting, direction and talent management of celebrities and other artists. A total of 28 premises are being covered in different locations which includes residences and offices."

On Thursday, the IT officials conducted raids on Phantom Films, Reliance Entertainment, Taapsee Pannu, Kwan Talent Management and Exceed Entertainment for alleged tax evasion.