Supreme Court issued notice to Big B for tax Evasion

Income tax department has appealed Supreme Court to issue a notice to Bollywood actor Amitab Bachhan. IT department has spoken to SC that Mr. Bachhan has not filed his full return. The department has alleged that Amitabh Bhachhan has not paid full income tax for his earning during the assessment year 2002-03. Rs.1.66 crore is still remaining as tax during this period.

Meanwhile income tax commissioner had submitted the plea related to the matter in the Bombay High Court in July 2012. High Court had given relaxation to Bachhan by dismissing the plea and continued the decision of Income Tax tribunal.

The Income Tax tribunal said that the proceedings by the assessment officer under section 147 are wrong. After that the income tax department challenged the decision of Supreme Court and sent a plea to give a notice to Amitabh Bachhan. The total income of Big B in assessment year 2002-03 was Rs.14.99 crore. He submitted revised return on 31st March 2003 in which his income was Rs.8.11 crore. After this procedure he took the revised return back on 13th March. The reason behind re-assessment is to give detail of only 6 bank accounts instead of 7 accounts.

Income tax department has appealed Supreme Court to issue a notice to Bollywood actor Amitab Bachhan. IT department has spoken to SC that Mr. Bachhan has not filed his full return. The department has alleged that Amitabh Bhachhan has not paid full income tax for his earning during the assessment year 2002-03. Rs.1.66 crore is still remaining as tax during this period.

Meanwhile income tax commissioner had submitted the plea related to the matter in the Bombay High Court in July 2012. High Court had given relaxation to Bachhan by dismissing the plea and continued the decision of Income Tax tribunal.

The Income Tax tribunal said that the proceedings by the assessment officer under section 147 are wrong. After that the income tax department challenged the decision of Supreme Court and sent a plea to give a notice to Amitabh Bachhan. The total income of Big B in assessment year 2002-03 was Rs.14.99 crore. He submitted revised return on 31st March 2003 in which his income was Rs.8.11 crore. After this procedure he took the revised return back on 13th March. The reason behind re-assessment is to give detail of only 6 bank accounts instead of 7 accounts.