Actor Shah Rukh Khan has emerged victorious in a long-standing tax dispute, with the Earnings Tax Appellate Tribunal (ITAT) ruling in his favor. The tribunal just lately quashed reassessment proceedings initiated by the Earnings Tax authorities for the monetary yr 2011-12.
Shah Rukh Khan wins tax battle as ITAT dismisses case over RA.One earnings
Background of the Shah Rukh Khan Tax Case
The case revolves round Shah Rukh Khan’s earnings from his 2011 movie RA.One, produced beneath his banner, Crimson Chillies Leisure. As per the settlement between Khan and the manufacturing home, 70% of the movie’s capturing befell within the UK, that means a considerable portion of his remuneration—estimated at Rs 83.42 crores—was topic to UK taxes, together with withholding tax. Khan declared this earnings in his unique tax return for the Evaluation Yr 2012-13, claiming a International Tax Credit score (FTC) to offset taxes paid overseas in opposition to his Indian tax legal responsibility.
Nevertheless, the Earnings Tax officer rejected Khan’s FTC declare, reassessing his earnings at Rs 84.17 crore and alleging underpayment of tax. The reassessment, initiated past the four-year statutory restrict beneath Part 147 of the Earnings Tax Act, sparked a authorized battle that has now concluded with the ITAT’s ruling.
ITAT’s Ruling: A Triumph for Shah Rukh Khan
The ITAT bench, comprising Sandeep Singh Karhail and Girish Agrawal, dominated that the reassessment proceedings have been invalid. The tribunal defined that the assessing officer failed to offer “recent tangible materials” to justify reopening the case after the statutory deadline. Moreover, the bench famous that Khan had totally disclosed his overseas earnings and tax credit in his unique submitting, which had already been scrutinized beneath Part 143(3). This made the reassessment a case of “mere change of opinion,” rendering it legally unjustified.
Alternatively, SRK has not publicly commented on the ruling as of March 10, 2025. Talking of the skilled entrance, he was final seen in Dunki, a 2023 launch directed by Rajkumar Hirani. The movie additionally options Taapsee Pannu. The actor will probably be subsequent seen in Siddharth Anand’s King.
Additionally Learn: IIFA Awards Jaipur: Drone gentle present celebrates Shah Rukh Khan; celebrity units the stage on hearth; dance with Madhuri Dixit proves to be icing on the cake
Extra Pages: Ra.One Field Workplace Assortment , Ra.One Film Evaluation
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