Jet Airways may have evaded taxes worth Rs 650 cr: Income Tax dept

Mumbai: Income tax (I-T) department has discovered some irregularities in transactions between Jet AirwaysNSE -1.68 % and its Dubai-based group companies and believes that the airline may have done this to evade taxes worth around ?650 crore.

The investigative wing of the I-T department has prepared a report saying this and forwarded it to the assessment division which will seek a reply from Jet Airways and decide whether or not to raise a tax demand.

“Jet Airways would like to clarify that it has not received any communication from I-T department so far,” a Jet Airways spokesman said. “Hence, the airline is unable to comment on the same.”