I-T officials conducting survey since September 19: Jet Airways

By: | Published: September 21, 2018 12:37 PM

On Wednesday, sources said the I-T Department is inspecting the books to ascertain whether there have been falsification of accounts, suspicious dealings and other possible violations.

I-T officials conducting survey since September 19 (Reuters)

Jet Airways Friday said Income Tax officials have been conducting survey of its premises since September 19. Shares of the crisis-hit airline fell over 8 per cent to touch a low of Rs 224.70 on BSE. It later recovered some lost ground and was trading at Rs 231.40, down 5.26 per cent at 1138 hours on the BSE.

On Wednesday, sources said the I-T Department is inspecting the books to ascertain whether there have been falsification of accounts, suspicious dealings and other possible violations.

In a regulatory filing Friday, the carrier said I-T officials are conducting a survey of the premises of the company since September 19. “The company is fully cooperating with the authorities and is responding to the queries by the Income Tax authorities,” it said.

The full service carrier, grappling with financial woes, is already under the scanner of markets regulator Sebi and the Corporate Affairs Ministry for various alleged lapses.

The airline reported a net loss of Rs 1,323 crore for the June quarter on August 27. The carrier is also under the regulatory lens for deferring the results, which were initially scheduled to be announced on August 9.

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