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Under Section 115bb of the IT Act, Tax trouble
April, 29th 2009

Almost nine years after he won his historic Rs 1 crore jackpot on Kaun Banega Crorepati (KBC), Harshvardhan Nawathe is being re-visited by the tax Harshvardhan Nawathe had won the Rs 1 crore jackpot on KBC in 2000 man.

A division bench of the Bombay High Court last week admitted an appeal filed by the Income Tax Department. I-T has challenged the order of the Income Tax Appellate Tribunal (ITAT) which had waived off Nawathes tax liability of about 40 per cent on the winnings in 2000-2001.

Nawathe had clubbed his winnings with his regular earnings for 2000-2001. He had paid Rs 35 lakh towards tax. However, the I-T later realised that this earnings from the win would have to be calculated under Section 115bb of the Income Tax Act.

After the ITAT rejected the additional claim of the I-T department last year, the I-T approached the HC.

 
 
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