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I-T dept slaps Rs 1,666-cr notice on Interglobe Aviation
New Delhi: Inter Globe Aviation has received orders from the Commissioner of Income-Tax Appeals for the Assessment year 2016-17 and 2017-18.“A demand...
New Delhi: Inter Globe Aviation has received orders from the Commissioner of Income-Tax Appeals for the Assessment year 2016-17 and 2017-18.
“A demand of Rs7,396.76 million (AY 2016-17) and Rs9,270.31 million (AY 2017-18) was raised by the Assessing officer, against which the Company had preferred appeal before CIT-Appeal,” Interglobe Aviation said.
“The CIT-Appeal has now passed the respective orders, wherein the revision to the taxable income on account of tax treatment of certain incentives received by the Company from manufacturers with the acquisition of the aircraft and engine and disallowance of certain expenses has been confirmed without granting an opportunity of personal hearing and adjudicating the matter on merits.”
The company will contest the same and will take appropriate legal remedies.
