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EntertainmentPosted at: May 11 2016 11:42PM


IT case has no relation to KBC: Amitabh

New Delhi, May 11 (UNI) Reacting to reports that the Supreme Court has allowed the Income Tax department to reopen a 2001 tax case against him pertaining to taxes owed by him for his show Kaun Banega Crorepati for the year 2001-2002, Bollywood actor Amitabh Bachchan today said the case has no relation to KBC.
''The said mentioned case has no relation to KBC (Kaun Banega Crorepati) whatsoever in any matter or context,'' the legal team of the Big B said in a statement.
Amitabh also denied that the said mentioned case has been reopened.
As per the reports, the Supreme Court today allowed the Income Tax department to reopen a 2001 tax case against him pertaining to Rs 1.66 crore in taxes owed by him for his show KBC for the year 2001-2002.
The actor said, ''The Supreme Court has given the respondent, i.e. 'Mr Amitabh Bachchan', the right to appeal against the re-assessment order.''
In July 2012, the Bombay High Court had granted relief to Amitabh by dismissing an appeal filed by the Income Tax Commissioner who reopened the actor's assessment proceedings for 2001-2002.
The Income Tax department had moved the Supreme Court against the High Court order.
In income tax return filed on October 13, 2002, the actor had stated Rs 14.99 crore as his income for the assessment year 2001-2002. On March 31, 2002, he filed revised returns declaring his total income for the assessment year 2001-02 as Rs 8.11 crore. However, before the assessment could be completed, the actor withdrew the revised returns.
On March 29, 2005, the Assessing Officer completed the assessment determining the actor's income at Rs 56.41 crore. On April 5, 2006, a notice was issued to the Big B seeking to reopen the assessment proceedings.
Among the reasons given for reopening assessment were that books of accounts kept by the actor were not examined and that although he had seven bank accounts, he had given details only six of them. Besides, he had withdrawn revised returns wherein he showed 30 per cent expenses for professional causes.
In 2008, the High Court had allowed I-T exemption of 30 per cent on Amitabh's total income of Rs 50.92 crore from the show.
The High Court had accepted the actor's plea that being an artiste he should be given tax relief.
The I-T department in its appeal had challenged the order on the ground that the relief is for those artistes who either earn by performing outside the country or receive payment from foreign agencies.
It was submitted by the I-T department that Amitabh was acting as an anchor in the television programme show for Star India Ltd and cannot be termed artiste for his role in the show.
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