Priyanka Chopra slapped with tax demands on apparent gifts including a

While Bollywood's
global icon
Priyanka Chopra
is busy juggling
between various
projects in the
West, including
the third season
of her TV series
Quantico, back
home, the
Baywatch actor
has been slapped
with multiple tax
demands by the
Income Tax
Appellate Tribunal
as per reports.
The four-year
spat started with
Priyanka being
ordered to pay
taxes on a luxury
watch and a
luxury sedan which she claims were gifted
to her by the respective companies and are
not a part of her professional income. While
the watch has been valued at Rs 40 lakhs,
the car is priced at Rs 27 lakhs, reports
Times Of India.
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The noted value of both the items have
been treated as taxable perquisites by ITAT
under section 28(iv) of the Income-tax Act.
The section treats as taxable, the value of
any benefit or perquisite (whether
convertible into money or not), arising from
business or exercise of profession.'
The reports also state that there are
multiple other issues regarding Chopra's
assets by ITAT apart from these two in a
series of orders which were passed on
January 16 this year. The orders cover four
years from the financial year 2006-07
onwards. Search and seizure operations
carried out in January 2011 by the Income-
tax (I-T) authorities on Chopra gave way to
a plethora of disputes and these orders
come in the wake of appeals by both the IT
department and the actor.
Moreover, when Priyanka contended that
the said watch was a "gift received from
the company out of love, affection and
respect towards her and cannot be a
taxable receipt in her hands, the I-T official
disagreed and said, "A company, is an
artificial person and therefore does not
have any emotional feeling of love and
affection which is the cardinal factors for
treating any transaction as gift, as
reported by TOI.

http://indianexpress.com/article/entertainment/bollywood/priyanka-chopra-income-tax-demands-5038775/.