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SC allows IT department to rep[em old case against Amitabh Bachchan

by IBNS 11 May 2016, 07:47 am

New Delhi, May 11 (IBNS) The Supreme Court on Wednesday allowed the Income Tax department to reopen a 2001 tax case against actor Amitabh Bachchan, reports said.

The IT department says the actor owes Rs. 1.66 crore in taxes for his show Kaun Banega Crorepati for the year 2001-2002.

In July 2012, the Bombay High Court had granted relief to Bachchan by dismissing an appeal filed by the Income Tax Commissioner who reopened the actor's assessment proceedings for 2001-2002.

The Income Tax department then moved the Supreme Court against the High Court order.

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 Besides, he had withdrawn revised returns wherein he showed 30 per cent expenses for professional causes.