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« From the Courts »
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 BEFORE SHRI H.L.KARWA, HON'BLE, VICE PRESIDENT AND SHRI T.R.SOOD, ACCOUNTANT MEMBER
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 Dy. Commissioner of Income Tax, Circle 6(1), Room No. 413, CR Building, New Delhi vs. Maharani Paints India Pvt. Ltd., TA-3/146-C, Tuglakabad Extn.,New Delhi
 Income Tax Officer, Ward 38(2), Room No. 234A, 2nd floor, CR Bldg., IP Estate, New Delhi vs. Sh. Naresh Kumar Through Legal Heir Sh. Naveen Kumar, 9307, Gaushala Marg, Kishan Ganj Delhi – 110 006

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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