Amitabh Bachchan is the
famous Bollywood actor and an ideal for many people around as he is the genuine
person of the industry with unique personality and creative thinking that
attracts and inspires many people. He is the person who has hosted many famous
shows that has gained outstanding popularity and is in demand with new seasons.
But he is now facing with the case 2011 tax again as the Supreme Court has
allowed income tax department to reopen the case against him. The department of
IT says that the actor has owned with 1.66 crores for his popular show “Kaun
Banega Crorepati” in year 2001-2002.
High Court in Bombay granted
the relief to him in July 2012, but by dismissing appeal that was filled by the
commissioner of income tax department to reopen the case with assessment proceedings
in 2001-2012. After that the income tax department moved towards the Supreme
Court against the order of high court.
On 13 October 2002, income
tax return was filled and it was stated that he earned with 14.99 crore as the
income assessment in the year 2001-2002. On 31 march 2002, he filled his returns
with revised income that declares the assessment in 2001-2002 with 8.11 crore. But
before the assessment completed he withdrew the returns that were revised.
On 29 march, 2005, the
officer of assessing completed the assessment that determines that his income is
56.41 crore. Mr bachchan on 5 April 2006, issued with a notice that assessment proceedings
will reopen in the year 2002-2003.
The reason behind all
this reopening of assessment was that the account books that were kept by him were
not examined well and in that he has given the details of six accounts but in
real he owns with seven bank accounts. When he withdrawn the returns that were
revised, he showed that his professional causes of expenses is just 30%.
Since 2009 a plea is
still pending in the top court and issued with a notice earlier to the
megastar. On 2008, the court allowed the exemption of 30% of his total income 50.92
crore from every show. After that high court permitted that being an actor he
will also have to give tax relief on time.
In the appeal of I-T
department challenged that orders on ground relief is just for those artistes who
earn by performing outside country or by receiving the payment that is from
foreign agencies.
I-T department submitted
that Mr. Bachchan acting like an anchor in television program for star India
Ltd and he cannot be termed as artistic for the role he played in the show.