By Hindustan Times
Film producer Karan Johar has moved the Bombay high court to challenge a notice issued by the Income Tax (I-T) Department, which states that more than Rs. 2 crore in profits from his film Kabhi Alvida Naa Kehna’s 2006 release was not disclosed.
According to the petition, the assistant commissioner of income tax, circle 31, issued the notice on March 20, 2012 under section 148 of the Income Tax Act (issue of notice where income has escaped assessment) to reopen the film producer’s assessment for the year 2006-07.
“I have reason to believe that income of Rs. 2 crore plus has escaped assessment,” the notice said. Johar had declared an income of Rs. 14.73 crore for that financial year, which included his earnings from the film.
However, the assistant commi