Indigo airline’s parent company InterGlobe Aviation has been slapped with a massive fine of Rs 944 crores by the Income Tax department for the assessment year 2021-22. The domestic aviation monopoly has, however, rejected the order, calling it erroneous and frivolous.
Indigo has informed that the Income Tax department has passed the order based on section 143(3) of the Income Tax Act, regarding scrutiny assessments, but there has been a misunderstanding.
Indigo has indicated that they will examine all legal aspects and will appeal against the order. It also assured the shareholders that despite the significant penalty, their business operations and financials are under no risk due to the order.
Financial analysts have also agreed, adding that Indigo’s robust business and balance sheet will shield any impact from the significant penalty.
