rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Kingfisher moves SC on payment of TDS

Kingfisher moves SC on payment of TDS

January 16, 2013 17:48 IST
Vijay Mallya-owned Kingfisher Airlines on Wednesday approached the Supreme Court challenging the Karnataka High Court's order directing it to deposit around Rs 185 crore (Rs 1.85 billion) with the Income Tax Department as tax deducted at source (TDS) from its employees' wages.

A bench headed by Chief Justice Altamas Kabir agreed to hear the case on Monday as senior advocate Mukul Rohatgi mentioned the matter before it.

The Airlines has challenged the December 5 order of the high court directing it to deposit 50 per cent of the Rs 371 crore to IT department. It had also asked the company to furnish bank guarantee for the remaining amount within six weeks.

The company contended in its petition that the amount due is much less than the demand made by the IT Department and the department had not given it a proper opportunity to hear its case.

It said the Department had issued notices without providing the company reasonable and sufficient opportunity of being heard.

The Department had claimed that the company had illegally withheld the revenue even after deducting the said amount from various sources, including by way of TDS.

The Department, in December 2011, had demanded payment of about Rs 372 crore as TDS from the company for the assessment years 2010-11, and 2011-12 following analysis of records.

© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.