Jackie Shroff gets a favourable ruling in the Income Tax dispute

| Jan 04, 2019, 06:16:21 PM | TNN
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The Mumbai branch of Income-Tax Appellate Tribunal(ITAT) has dismissed actor Jackie Shroff's case as a business loss. The actor had advanced a sum of Rs. 11.35 crore to his wife Ayesha and her production house. Out of the two films financed by Jackie, one was a flop at the box office and the other never got released. This also led to the shutdown of the production house. The same was reported as a business loss by Jackie in his tax returns for the year 2008-09. Now, ITAT has disagreed with the lower tax authorities who claimed that such advances were personal and cannot be allowed as a deduction.

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