Hyderabad: Income Tax sleuths carried out searches against Asian Cinema & Multiplexes Private Limited and Skill Promoters Infra Private Limited. Officials from the anti-tax evasion wing of the department began searches on early October 22 at the residence and corporate offices of the two companies based in Hyderabad.
The promoter of Asian Cinemas & Multiplexes, Sunil Narang, owns a chain of theatres in the twin cities. The multiplexes are located across Kukatpally, Uppal, and Kapra. The unlisted private company was incorporated in 2008. Asian cinemas is headed by four directors — Narayandas Kishandas, Narang Bharat, and two others. The taxmen searched the residence of Sunil Narang as well as their corporate offices.
- #Hyderabad: Income Tax sleuths carried out searches against Asian Cinema & Multiplexes Private Limited and Skill Promoters Infra Private Limited for tax evasion. @AsianCinemas_ @IncomeTaxIndia https://t.co/an2gFhsBTK
— NewsMeter (@NewsMeter_In) October 22, 2019
Besides the theatre chain promoters, detecting tax evasion, IT sleuths searched the properties of Skill Promoters Infra. Incorporated in 2014, the company is classified as a private limited and has four directors — Boppana Sarat Gopal, Boppana Tara Chand, and others. IT officers raided their corporate office as well.