The Supreme Court of India Monday issued a notice to Bollywood megastar Amitabh Bachchan, aka Big B, asking him for his tax-evading act from the income earned from popular TV game show ‘Kaun Banega Crorepati’ (KBC) in 2000-01.
The income tax (IT) department has filed a lawsuit before the apex court against Big B questioning the Bombay High Court’s decision to grant him exemption from obligatory income tax that was 30% of the total earned income Rs.50.92-crore.
The Bombay High Court last year had granted exemption to Bachchan from paying Rs.15.27-crore as income tax on the basis of his argument to cut down the tax under the Section 80 RR of the Income-Tax Act, considering that he was an artist.
But, the Income Tax department on August 2008 had challenged the decision in the apex court seeking explanation from the High Court: ‘on what basis it gave the requisite tax relief to Bachchan?’, when, according to law, tax redemption is applied on those artists who either earns by performing outside the country or receive payment from foreign agencies.
While, Amitabh was not an artist in KBC, he was just an anchor, added IT-Department.
A bench of two judges headed by Justice S S Kapadia in issued notice to Big B has asked him to provide full detail of his earned income and proof of his incurring security expenses amounting 30% of total earned income.
The case has been adjourned till for final hearing on October 28.
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