Amitabh Bachchan Bollywood & Business Bollywood Gossip Business News

Supreme Court Allows Incom Tax Department to Reopen Amitabh Bachchan’s KBC Tax Case

Bollywood-megastar-Amitabh-Bachchan
Written by Team Maffat
Bollywood-megastar-Amitabh-Bachchan

Bollywood-megastar-Amitabh-Bachchan

The Supreme Court allowed to the Income Tax department to reopen a 2001 tax case against super star Amitabh Bachchan. The Supreme Court allowed to IT to reopen this case on 11th May 2016, Wednesday.

A bench of Justice Ranjan Gogoi and Justice P C Pant set aside the July 2012 order of the Bombay High Court that gave relief to Bachchan in a tax dispute arising from his income from his show (Kaun Banega Crorepati) KBC. Bollywood megastar Amitabh Bachchan has been hosting the show for the fifth time since 2000.

An apex court bench comprising Justice Ranjan Gogoi and Justice Prafulla C. Pant said that, “We are of the opinion that the present is a fit case for exercise of the suo motu revisional powers of the CIT (Commissioner of Income Tax) under Section 263 of the (Income Tax) Act.” IT department had challenged Bombay High Court order in SC that gave tax relief to Amitabh over case related to his earning from the game show.

Disposing of the plea by the income tax department, the bench said, “However, we have to add that as the re-assessment order dated December 29, 2006 had not been tested on merits, the assessee would be free to do so, if he is so inclined and so advised.”

Earlier in 2008, the High Court had allowed IT exemption on 30 percent of Bachchan’s total income of Rs 50.92 crore from the show. The HC had accepted the actor’s plea that being an artists, he should be given tax relief under Section 80 RR of the Income Tax Act.



This post has been seen 249 times.

About the author

Team Maffat

News Maffat Com is a Free Guest Blogging Website.
Must Try once.