Mumbai: The income-tax (I-T) department has launched a two-day survey operation at the business premises of the Naresh Goyal-controlled Jet Airways in connection with alleged financial irregularities and suspicious transactions, said an I-T source privy to the development.
According to the source, the tax department is examining whether there is any falsification of the account books, siphoning of funds, and issue of suspicious bogus expenses booked to group entities. “Documents have been impounded and the books have been sent for verification,” said the source cited above.
The survey operation, being conducted by 50 tax officials, is taking place under Section 133A of the I-T Act at the airline’s four premises, including Andheri and Nariman Point, in Mumbai and Connaught Place in Delhi.
Sources said the I-T department is assessing whether the financial transaction would attract tax liability on the parties concerned. Accordingly, the evidence is being collected. Further, some of the top airline executives were being questioned during the first day of the survey operation, they added.
19/09/18 Shrimi Choudhary/Business Standard
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According to the source, the tax department is examining whether there is any falsification of the account books, siphoning of funds, and issue of suspicious bogus expenses booked to group entities. “Documents have been impounded and the books have been sent for verification,” said the source cited above.
The survey operation, being conducted by 50 tax officials, is taking place under Section 133A of the I-T Act at the airline’s four premises, including Andheri and Nariman Point, in Mumbai and Connaught Place in Delhi.
Sources said the I-T department is assessing whether the financial transaction would attract tax liability on the parties concerned. Accordingly, the evidence is being collected. Further, some of the top airline executives were being questioned during the first day of the survey operation, they added.
19/09/18 Shrimi Choudhary/Business Standard
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