Income Tax department questions Big B
- IndiaGlitz, [Friday,February 19 2010]
Indian Income tax officials recently questioned actor Amitabh Bachchan in connection with repayment of Rs 40 crore worth loan by his company in 2005.
Big B was accompanied by former Samajwadi Party leader Amar Singh and according to our reports, the IT authorities asked the icon all the details they required.
On asked why a person with the stature of Mr. Amitabh Bachchan was questioned like a common man, the spokesperson for Central Board of Direct Taxes replied that, ÂHe is like any other tax payer and some notice would have gone for some routine verification.Â
Big BÂs company ABCL (Amitabh Bachchan Corporation Limited), had taken a loan of $9 million (around Rs 40 crore) from a London-based person, and repaid it in 2005.
However, I-T authorities, in subsequent years, found that the company records did not have the details of loan payment. The records also did not show from where the money came to repay the loan. During these years, the company was facing financial trouble.
Big B was issued notice asking to give details of the transaction.