The Kochi Income Tax (IT) office, which raided the homes and offices of Malayalam superstars Mammootty and Mohanlal and their close associates last month, have found that the undisclosed incomes of both the actors together come to about Rs300 million.
E.T. Lukose, director general of Income Tax (investigation), said in a press release that after the searches, a preliminary post-search inquiry has been initiated.
The undisclosed income earned is said to have been invested in real estate and assets abroad. Cash and jewellery were also seized.
The release said that inquiries with banks in the country and abroad are being conducted. Investments in immovable/movable properties made in foreign countries are also being investigated.
"One of the actors has a huge collection of valuable antiques and priceless paintings which have been referred to experts for valuation," said Lukose.
