I-T searches premises linked to film producers Kumar Mangat Pathak, Vashu Bhagnani

Mumbai: The Income Tax Department on Monday conducted search operations at multiple locations in Mumbai linked to film production banner Panorama Studios and producers Kumar Mangat Pathak and Vashu Bhagnani as part of a probe into suspected irregularities involving foreign remittances and alleged tax evasion, sources said.

According to sources, the department had been working on leads regarding certain overseas transactions linked to film production and related activities. After corroborating the information, officials identified certain foreign remittances that are now under scrutiny. The department is examining the nature and purpose of these transactions, including whether they were genuinely connected to film-related expenses and whether they were correctly disclosed for tax purposes.

Multiple teams searched the premises and examined financial records, documents and details of overseas transactions. Typically, search operations continue for a couple of days, during which officials collect relevant data and record statements. The investigation wing subsequently scrutinises the material and submits a report to the assessment wing, along with details of any suspected tax liability.


The assessing officer then examines the report and gives the assessee an opportunity to be heard before raising the final demand, which could include penalty and interest if tax evasion is established.

Panorama Studios declined to comment on the matter, while Bhagnani was not immediately reachable for comment.

Pathak heads Panorama Studios, which has been associated with films including Drishyam 2, Shaitaan, Raid 2 and Dhamaal 4. Its upcoming release, Drishyam: The Conclusion, is scheduled for October 2.

Bhagnani's Pooja Entertainment has produced films including Mere Husband Ki Biwi (2025), Bade Miyan Chote Miyan, Mission Raniganj and Ganapath.