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Supreme Court allows fresh Assessment of Amitabh Bachchan’s Tax Liability

May,11,2016:

Dispute is qua income he earned through the quiz show ‘Kaun Banega Crorepati’ during 2001-02.

‘Kaun Banega Crorepati’
‘Kaun Banega Crorepati’

In a major legal setback to cine actor Amitabh Bachchan, the Apex Court on Wednesday allowed the Income Tax department to reopen a Tax case against him pertaining to his income for the year 2001-02.

A Bench of Justices Ranjan Gogoi and P C Pant of SC upheld two orders of Mumbai’s Income Tax Commissioner and directed fresh assessment of Income Tax liability of the Cine star.

The court allowed two separate Appeals filed by IT Department and set aside the orders of the Bombay High Court and the Income Tax Appellate Tribunal (ITAT) on the issue.

Bench deliberated on various provisions of the tax law while  allowing the appeal of the Income Tax department.

It also allowed the I-T Department’s another appeal filed in 2013 and set aside the January 11, 2010 order of ITAT and the Bombay high court’s February 29, 2012 order.

The apex court passed the judgement on two different appeals filed by the IT Department which has claimed the actor owes several crores rupees to it as Taxes on his income he earned through the quiz show ‘Kaun Banega Crorepati’ during 2001-02.

However, Amitabh Bachchan’s legal advisory team stated that no such case was reopened. A statement released by the legal team said, “The case has not been reopened and also the case has no relation to Tele Serial KBC (Kaun Banega Crorepati) whatsoever in any matter or context.”

The Team also said the apex court has given Bachchan “the right to appeal against the re-assessment order passed”.

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