Naresh Goyal gets I-T notices

Last Updated: Tuesday, December 27, 2011 - 20:12

New Delhi: Jet Airways Chairman Naresh Goyal on Tuesday maintained that he has not violated Income Tax law provisions or evaded taxes and he has already responded to notice of the authorities seeking explanation reportedly about an overseas account held by him.
"We have complied with the notices received from the I-T department under Section 131 and Section 148 of the I-T Act. There is neither any violation of the Act nor any evasion of tax," Jet Airways Chairman Naresh Goyal was quoted as saying by his spokesperson.
The I-T notices, sent by the Mumbai investigations directorate, have been issued under two heads "where income has escaped assessment" and "compelling the production of books of account and other documents" of the taxpayer.  Goyal's company Tail Winds, the parent company which owns 79 percent in Jet Airways, is based in the tax haven of the Isle of Man in the United Kingdom.
According to sources, the I-T department will also send a communication to their counterparts in the Isle of Man to obtain further information on the account and determine if it is a legal or illegal account holding.
According to I-T sources, existence of such an account has not been reflected earlier in the I-T returns of Goyal or his company.


First Published: Tuesday, December 27, 2011 - 18:22
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