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Supreme Court allows Income Tax Department to re (1) .pdf


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Supreme Court allows Income Tax Department to reopen Amitabh Bachchans’s tax-case: Abolish
misused and unnecessary exemptions

It represents media-reports about Superior Judge enabling Earnings Tax
Division to re-open tax-assessment situation of mega-star Amitabh
Bachchan for the season 2001-02 wherein Earnings Tax Division may get
rupees 1.66 crores. Discussion was because of an unwanted exception to
this rule offered to those artistes who either generate by executing outside
the nation or get transaction from international organizations. Department’s
argument was that the megastar’s income was for anchoring popular TV
display ‘Kaun Banega Crorepati’ where he was not a painter.
Some time back again, Earnings Tax Appellate Tribunal (ITAT) Mumbai
organised large making of rupees 98 lakhs in the fiscal-year 2000-01 as
commentator by popular former cricketer Sunil Gavaskar as excused from
Earnings Tax under area 80RR of Earnings Tax which allows
sportspersons, performers or writers etc as reduction a certain section of
the international remittances obtained by them in the “exercise of their
profession”. Here also Earnings Tax Division appropriately organised the
stated exception to this rule incorrect because the declaring individual was
no more a sportsman. It is just a few fulfillments that the said exception to
this rule under area 80RR has since been eliminated from 01.04.20014.
Identical was a situation previously where another popular former cricketer

Sachin Tendulkar once stated himself to be an acting professional rather
than a sportsman just to get tax-exemption! Unfortunately such super-rich
individuals try to avoid wasting taxation which are basically ‘paltry’
quantities for them just because of unwanted and senseless taxexemptions offered by Earnings Tax Division.
Income Tax Division should now eliminate blatantly abused tax-exemptions
under segments 80G, 80GGB and 80GGC pertaining to contributions for
public cause and efforts received-by/made-to governmental events. It is
important that governmental events are not adhering to full-bench CICverdict old 03.06.2013 where efforts made-to/received-by governmental
events were taken as oblique financing by govt. About 2000 governmental
events are authorized to declare such unwanted exception to this rule
surprisingly to change unaccounted income as paid for one! After all
additional income so gained by abolishing such exceptions will be for
nationwide growth and public-welfare which is in no way less than ‘donation
and public-service’ claimed to be done by those getting such exemptions!
allrightsmagazine


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