The Supreme Court today has issued a notice to Megastar of Bollywood, Amitabh Bachchan on a petition from Income Tax department. The IT department says the Amitabh owes 1.66 crores in taxes for his show
Kaun Banega Crorepati for the year 2002-03.
In July 2012, the Bombay High Court had granted relief to Amitabh by dismissing the appeal filed by the Income Tax Commissioner who reopened the actor's assessment proceedings for 2002-03.
The Income Tax department had appealed in Supreme Court against the High Court order.
On October 13, 2002, Amitabh Bachchan had filed returns stating his income at Rs 14.99 crore for Assessment Year 2002-03. On March 31, 2003, he filed revised returns declaring his total income for the assessment year 2002-03 determining his income at Rs 8.11 crore.
However, before the assessment could be completed, Amitabh withdrew the revised returns by a letter dated March 13, 2004. 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 under Section 147 of the IT Act was issued to Mr Bachchan seeking to reopen the assessment proceedings for the Year 2002-03.
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 the actor had given details of only six of them. Besides, he had withdrawn revised returns wherein he showed 30 per cent expenses for professional causes.