“We will evaluate their actual income from the documents seized and match them with what they have shown in their tax returns. We will also summon them to reply (on the same). It will take almost two months to prepare the appraisal report. Then we will be able to know exact amount of their unaccounted income,” Sohi said.
IT officials said if the need arises, they could also reopen their income tax returns of last six years and will also investigate whether there are any hawala transactions carried out by either singers or producers.
“We cannot rule out hawala transactions. We will analyse (this angle also),” Sohi said adding, once it was found then, the Enforcement Directorate would be informed to carry out further investigation.
The Punjabi film industry, which did not fare well in the past few years, has flourished this year delivering a number of blockbusters including Jatt & Juliet.
