I-T Department Seeks Information on Amitabh Bachchan, Others in Panama Papers

The I-T department has launched 33 prosecutions linked to the names revealed in the Panama Papers.

New Delhi, August 14: The Income Tax department is seeking information about Indians, including Bollywood actor Amitabh Bachchan, whose names allegedly emerged in the Panama Papers case. The department has sent a top-level officer to the British Virgin Islands to access information, a senior official has said.

The I-T department has launched 33 prosecutions linked to the names revealed in the Panama Papers, the Times of India reported. “There is no let-up in investigations. We are aggressively seeking information from other countries,” the official said.

On the question of whether information linked to the allegations against Bachchan was being pursued, the official said, “Bachchan has said he does not own any of the firms named in the documents. So we just can’t launch a probe. We have to seek information.”

“We have sent a senior CBDT (Central Board of Direct Taxes) officer to the British Virgin Islands to gather information and we are also seeking information from various other countries and then we will have to analyse and see if there are any violations,” the official added.

Bachchan has already denied any wrongdoing. When the Panama Papers revelations came to light, he had said, “I do not know any of the companies referred to by Indian Express – Sea Bulk Shipping Company Ltd, Lady Shipping Ltd, Treasure Shipping Ltd, and Tramp Shipping Ltd. I have never been a director of any of the above stated companies. It is possible that my name has been misused. I have paid all my taxes including on monies spent by me overseas. Monies that I have remitted overseas have been in compliance with law, including remittances through LRS, after paying Indian taxes. In any event the news report in Indian Express does not even suggest any illegality on my part.”

The tax authorities in India have come under criticism after Pakistan Prime Minister Nawaz Sharif was removed from his post by the country’s Supreme Court in connection with Panama Papers scandal.

Panama Papers were leaked from the law firm Mossack Fonseca and connect to 140 politicians in more than 50 countries. More than 500 Indians figure on the firm’s list of offshore companies, foundations and trusts. There are also 234 Indian passports (handed over by clients as part of the incorporation process).