The Bombay High Court had granted relief to Mr Bachchan by dismissing the appeal filed by the Income Tax Commissioner
Highlights
- The Supreme Court today issued a notice to megastar Amitabh Bachchan on a petition from the Income Tax department. The IT department says the megastar owes 1.66 crores in taxes for his show Kaun Banega Crorepati for the year 2001-2002.
- In July 2012, the Bombay High Court had granted relief to Mr Bachchan by dismissing the appeal filed by the Income Tax Commissioner who reopened the actor's assessment proceedings for 2001-2002. In their order, Justices M S Sanlecha and S F Vajifdar upheld an order of the Income Tax Tribunal which, on March 19, 2010, held that the assessment officer was not justified in starting proceedings under section 147 of IT Act against Mr Bachchan.
- The Income Tax department had appealed in Supreme Court against the High Court order.
- On October 13, 2002, Amitabh Bachchan had filed returns stating his income at Rs 14.99 crore for Assessment Year 2001-2002. On March 31, 2002, he filed revised returns declaring his total income for the assessment year 2001-02 determining his income at Rs 8.11 crore. However, before the assessment could be completed, the actor, withdrew the revised returns.
- On March 29, 2005, the Assessing Officer completed the assessment determining the actor's income at Rs 56.41 crore. On April 5, 2006, a notice under Section 147 of the IT Act was issued to Mr Bachchan seeking to reopen the assessment proceedings for the Year 2002-03.
- Among the reasons given for reopening assessment were that books of accounts kept by the actor were not examined and that although he had seven bank accounts the actor had given details of only six of them. Besides, he had withdrawn revised returns wherein he showed 30 per cent expenses for professional causes.
- A similar plea is pending since May 2009 in the apex court which had earlier issued notice to the megastar.
- Earlier in 2008, the high court had allowed I-T exemption on 30 per cent of Mr Bachchan's total income of Rs 50.92 crore from the show.
- The high court had accepted the actor's plea that being an artiste he should be given tax relief under Section 80 RR of the Income-Tax Act.
- The I-T department in its appeal had challenged the order on the ground that the relief is for those artistes who either earn by performing outside the country or receive payment from foreign agencies.
- It was submitted by the I-T department that Mr Bachchan was acting as an anchor in the television programme show for Star India Ltd and cannot be termed artiste for his role in the show.
- (With PTI inputs)
The Supreme Court today issued a notice to megastar Amitabh Bachchan on a petition from the Income Tax department. The IT department says the megastar owes 1.66 crores in taxes for his show
Kaun Banega Crorepati for the year 2001-2002.
In July 2012, the Bombay High Court had granted relief to Mr Bachchan by dismissing the appeal filed by the Income Tax Commissioner who reopened the actor's assessment proceedings for 2001-2002. In their order, Justices M S Sanlecha and S F Vajifdar upheld an order of the Income Tax Tribunal which, on March 19, 2010, held that the assessment officer was not justified in starting proceedings under section 147 of IT Act against Mr Bachchan.
The Income Tax department had appealed in Supreme Court against the High Court order.
On October 13, 2002, Amitabh Bachchan had filed returns stating his income at Rs 14.99 crore for Assessment Year 2001-2002. On March 31, 2002, he filed revised returns declaring his total income for the assessment year 2001-02 determining his income at Rs 8.11 crore. However, before the assessment could be completed, the actor, withdrew the revised returns.
On March 29, 2005, the Assessing Officer completed the assessment determining the actor's income at Rs 56.41 crore. On April 5, 2006, a notice under Section 147 of the IT Act was issued to Mr Bachchan seeking to reopen the assessment proceedings for the Year 2002-03.
Among the reasons given for reopening assessment were that books of accounts kept by the actor were not examined and that although he had seven bank accounts the actor had given details of only six of them. Besides, he had withdrawn revised returns wherein he showed 30 per cent expenses for professional causes.
A similar plea is pending since May 2009 in the apex courtwhich had earlier issued notice to the megastar.
Earlier in 2008, the high court had allowed I-T exemptionon 30 per cent of Mr Bachchan's total income of Rs 50.92 crorefrom the show.
The high court had accepted the actor's plea that being anartiste he should be given tax relief under Section 80 RR ofthe Income-Tax Act.
The I-T department in its appeal had challenged the orderon the ground that the relief is for those artistes who eitherearn by performing outside the country or receive payment fromforeign agencies.
It was submitted by the I-T department that Mr Bachchan wasacting as an anchor in the television programme show for StarIndia Ltd and cannot be termed artiste for his role in theshow.
(With PTI inputs)