IndiGo share: The company received a penalty order of ₹ 944 crore from the Income Tax Department, know the whole matter

IndiGo's parent company InterGlobe Aviation Limited has informed that it has received a penalty order from the Income Tax Department for the assessment year 2021-22. IndiGo has been fined Rs 944 crore. The company said in a filing that a penalty of Rs 944.20 crore has been imposed under section 270A of the Income Tax Act, 1961. IndiGo says that the Income Tax Authority mistakenly assumed that the appeal against the assessment order under section 143 (3) has been dismissed, while the appeal is still active and the decision is pending.

The company has said that it will take all available legal avenues to challenge the order. IndiGo said, "The company firmly believes that the order passed by the Income Tax Authority is not in accordance with the law and is erroneous. The company will oppose it and take appropriate legal measures against this order. Therefore, this order will not have any significant impact on the company's financial, operations or other activities." Share performance The company's stock closed at Rs 5,100 on Friday with a decline of 0.54 percent. In the last one year, the company's stock has seen a rise of 43.70 percent. 

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