Bangalore: In a setback to the beleaguered Kingfisher Airlines, the Karnataka high court on Wednesday directed it to deposit 50% of the total outstanding amount of Tax Deducted at Source (TDS), deducted from its employees and payments towards expenses.
A division bench comprising Justice DV Shylendra Kumar and Justice B Manohar asked it to furnish a bank guarantee to the income-tax department for the rest of the amount within six weeks. The modified order was passed in separate appeals filed by the I-T department as well as the company challenging the May 25, 2012 order of the Income-Tax Appellate Tribunal ( ITAT).
05/12/12 Times of India
