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Amitabh Bachchan’s 2001 I-T case re-open by Supreme Court

New Delhi: The Supreme Court allowed to reopen a 2001 tax case against Big B Amitabh Bachchan. The I- T department says the actor owes Rs 1.66 crore in taxes for his show Kaun Banega Crorepati for the year 2001-2002.

The Bombay High Court had granted relief to Mr Bachchan in July 2012 by dismissing an appeal filed by the Income Tax Commissioner who reopened the actor’s assessment proceedings for 2001-2002 and he was allowed a 30 percent I-T exemption on his income of Rs 50.92 crore from “Kaun Banega Crorepati” .

Now a bench of Justices Ranjan Gogoi and Prafulla C. Pant allowed an appeal by the I-T department against a Bombay High Court verdict declaring the order of the IT appellate Tribunal for exemption.

“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,”said the bench.

Bachchan’s chartered accountant and legal advisory team denied by saying that the case had no relation to Kaun Banega Crorepati, and the matter had not been reopened. In 2008.