Supreme Court allowed, Big B's Income Tax old case will be reopen

Supreme Court stayed the decision of Bombay High Court and allowed the Income Tax Department to reopen the case agaisnt Amitabh Bachchan of the years 200-03. Let me tell you, Bombay Highcourt gave him 30 % discount on the Tax. In this Income Tax case, On the appeal of this department, Supreme Court sent a notice to Big B, in the starting of January. Income Tax Department alleges that in year 2002-03 Amitabh Bachchan gave tax of 1.66 crores. In July 2012, the Bombay High Court had granted relief to Mr Bachchan by dismissing an appeal filed by the Income Tax Commissioner. In July 2012, the Bombay High Court had granted relief to Mr Bachchan 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 told Rs. 14.99 crore as his income for the assessment year 2001-2002. On 31st march 2003, Amitabh Bachchan filed his revised return and declared his income as 8.11 crores. Before ending od Assessment, AMitabh Bachchan took his revised return back on 13 March, 2004. On March 29, 2005, the Assessing Officer completed the assessment determining the actor's income at Rs. 56.41 crore and under section 147, he was sent a notice to pay rest of the amount. This reason why assessment was done, that Amitabh has seven accounts, whereas he has given details of six amounts. Amitabh has shown his income less which was made from KBC. According to IT Department, 'Big B has shown some part of KBC earning. Whereas big part was shown in ABCL. IT Department had problem with this and now this case reached Supreme court.