Karan Johar moves Bombay High Court against Income Tax notice

The filmmaker has been served a notice for his unassessed income for the year 2006-07

Karan Johar has moved the Bombay High Court against a notice issued to him by the Income Tax department. The IT department’s notice served to him on March 20, 2012 under Section 148 of the IT Act says that Rs 2 crores KJo earned during the year 2006-07 when his film Kabhi Alvida Naa Kehna released has not been assessed.

Meanwhile, the filmmaker maintains that he had declared an income of Rs 14.73 crores in the assessment year 2007-08, which included KANK’s business as well.

The IT department on the other hand claims that the film earned Rs 70.10 crores and that the total cost of production was Rs 57.44 crore. It further alleges that Karan had not furnished the complete details of the expenditure.

Johar has moved the HC requesting that the IT notice be quashed. His plea is likely to be heard on March 6.