The Supreme Court on Wednesday has allowed tax officials to investigate the discrepancies related to Bachchan's re-revised tax return of the assessment year 2001-02, as tax assessing officer failed to verify sources of his expenses. The Income Tax department says the actor owes Rs 1.66 crore in taxes for KBC for the said year.


Bachchan had disclosed Rs 14.99 crore as his income in his original returns filed on October 13, 2002 for the assessment year 2001-02 has later revised his returns showing his income as Rs 8.11 crore for the same assessment year, claiming some expenses as deduction like security guard and agencies fee, etc.


The Income tax department has then issued a notice under section 263 on the ground that tax assessment of Amitabh Bachachan's return was erroneous and pre judicial to interest of revenue. On March 29, 2005, the Assessing Officer has completed the assessment determining the actor's income of Rs. 56.41 crore.


According to the Income Tax Officer, income has to be earned outside India and the claimant should go out of India and then through banking channels should bring the professional earnings and the Tax officials has strongly opposed that Bachachan is not entitled to claim deduction under section 80RR as he was physically working in India.



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