I-T dept imposes Rs 944 cr penalty on IndiGo, airline to contest order

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I-T dept imposes Rs 944 cr penalty on IndiGo, airline to contest order - Business Standard

Quick Summary:

"The order has been passed on the basis of an erroneous understanding that appeal filed by the company before the Commissioner of Income Tax (Appeals) (CIT(A)) against the assessment order under Section 143(3) has been dismissed, whereas the same is still alive and pending adjudication," it said.

In a regulatory filing on Sunday, IndiGo said the Assessment Unit of the Income Tax Department (Income Tax Authority) has passed an order imposing Rs 944.20 crore penalty for assessment year 2021-22.

The Income Tax Department has slapped a penalty of Rs 944.20 crore on IndiGo, which said it will contest the order that is "erroneous and frivolous".