Click to play videoNew Delhi: Jet Airways has given a clarification on reports regarding Rs 200 crore demanded by the Income Tax department in taxes on the acquisition of Sahara Airlines.
"As per the provisions of the agreements (relating to sale of Sahara Airlines to Jet Airways) ..., the liability, if any, for the tax demands in respect of which the investigation are currently in progress rests with the earlier owners of the Sahara Airlines," the company said in a filing with the Bombay Stock Exchange.
Sahara Airlines earlier owned Air Sahara which was bought and rebranded as JetLite. The Jet says the tax authorities are investigating an alleged non-payment of service tax by Sahara Airlines, the liability of which rests with Sahara Airlines. JetLite is providing full co-operation to the authorities in regard to the investigation, the company said.
Jet Airways acquired the Sahara Airlines in April last year for Rs 1,450 crore after a protracted legal battle with Sahara Group over the delay in transactions. After the takeover, Sahara Airline was rechristened as Jetlite.
The Jet had communicated to stock exchanges in the wake of news reports that Jetlite had got a Rs 100-crore tax notice. Sahara Group officials, however, could not be contacted for their comments.
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