- Select a language for the TTS:
- UK English Female
- UK English Male
- US English Female
- US English Male
- Australian Female
- Australian Male
- Language selected: (auto detect) - EN
Play all audios:
Mumbai, Sep 21 (IANS) Jet Airways on Friday said it is cooperating with the authorities concerned and is responding to the questions raised by the Income Tax Department. The statement comes
after the Tax Department officials on Wednesday conducted "verification surveys" at the business premises of Jet Airways at four locations in New Delhi and Mumbai. "Income Tax
officials are conducting a survey at the premises of the company since September 19. The company is fully cooperating with the authorities and are responding to the queries raised by the
Income Tax authorities," the airline said in a regulatory filing to the BSE. It also said: "We are committed to make appropriate disclosures in accordance with applicable
regulations to avoid any speculative activities and have been regular in making the required disclosures..." Sources on Wednesday said: "These are verification surveys and not
raids as such. The Income Tax officers have visited four business units of Jet Airways to ascertain if the expenses claimed by the company are correct." Meanwhile, the IT move has led
to a slump in the shares of the airline. At 1.00 p.m., the share price of Jet Airways on the BSE was at Rs 227.85, lower by Rs 16.40 or 6.71 per cent from its previous close of Rs 244.25 per
share. (This story was auto-published from a syndicated feed. No part of the story has been edited by THE QUINT.)
