IndiGo’s parent firm to challenge tax demands worth over Rs 1,666 cr

InterGlobe Aviation, the mother or father of the nation’s largest airline IndiGo, on Wednesday stated it should problem tax calls for price over Rs 1,666 crore.

The Commissioner of Earnings Tax-Appeals (CIT-Enchantment) has handed orders associated to tax calls for for the evaluation years 2016-17 and 2017-18.

In a regulatory submitting, the corporate stated a requirement of “INR 7,396.76 million (AY 2016-17) and INR 9,270.31 Million (AY 2017-18) was raised by the Assessing officer, in opposition to which the Firm had most well-liked attraction earlier than CIT-Enchantment”.

The figures are excluding curiosity and penalty.

The CIT-Enchantment has handed the respective orders.

As per the submitting, the revision to the taxable revenue on account of tax remedy of sure incentives acquired by the corporate from producers with the acquisition of the plane and engine and disallowance of sure bills has been confirmed with out granting a possibility of non-public listening to and adjudicating the matter on deserves.

The corporate will contest the identical and can take acceptable authorized cures, it stated.

Additional, InterGlobe Aviation stated it believes, primarily based on authorized recommendation from counsel, that the views taken by authority usually are not sustainable.