According to official sources, besides Katrina, Priyanka and Kasbekar, the IT officers also raided Priyanka's business manager Chand Mishra and a staff at Katrina's office.
Kasbekar's companies, a celebrity management outfit Bling Entertainment Solutions, and Matrix, a talent hunt company, were also searched.
The IT action, in which around 70 officers and supervisors were involved, were carried out for suspected tax evasion by the celebrities, the sources said.
The searches started around 7.30 a.m. simultaneously at 12 sites, at the residences and offices of the two actresses in the western suburbs, including Priyanka's home in Versova, Andheri west.
Also raided were the homes of their secretaries, their respective office premises and other locations during the daylong operations, the sources said.
The IT department was investigating whether the celebrity trio had paid taxes proportionate to the known income earned by them during the past year and more from various sources.
Both Katrina and Priyanka are ranked in the top rungs in Bollywood working with the top stars and the leading film banners, besides endorsing top brands and participating in the major stage shows in India and abroad.
Similarly, Kasbekar is a lead fashion, glamour and celebrity photographer in the entertainment world, securing top shooting assignments in India and abroad.
Despite repeated attempts by, he did not respond to phone calls or SMS.