The Supreme Court has granted its permission to the income tax department to reopen its 2010 tax case against veteran actor Amitabh Bachchan over his earnings from the TV show Kaun Banega Carorepati.
In its ruling the Supreme Court, setting aside the verdict of the Bombay High Court upheld the IT department's appeal against the lower court's decision that gave relief to Bachchan in a tax dispute case that arose from his earnings from the show KBC. While the Bombay High Court had dismissed the IT department's plea in 2015 allowing Bachchan a tax exemption for being an artist on the show, the Supreme Court had earlier sought the actor's response on a petition by the Income Tax Department, which claimed that the actor owes to it Rs 1.66 crore as taxes on his income he earned through the quiz show during 2001-02.
For the uninitiated, back in 2008 the Bombay High Court had granted Bachchan an income tax exemption on 30 percent of his income of Rs 50.92 crore from the show, while accepting the actor's plea that being an artiste; he should be given tax relief under Section 80 RR of the Income Tax Act. Following this the Income Tax department had in its appeal challenged the order on the ground that the relief is for those artists, who either earn by performing outside the country or receive payment from foreign agencies.
Reacting to the same the actor's accountants and lawyers released a statement stating, "The said mentioned case has no relation to KBC whatsoever in any matter or context. The said mentioned case has not been opened. The Supreme Court has given the respondent i.e. Mr. Amitabh Bachchan the right to appeal against the re-assessment order."
Watch this space for more updates.
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