Taxman orders special audit of Jet Airways

MUMBAI: The income tax department has ordered a special audit of Jet AirwaysNSE -4.94 %, after investigations by its arms found a number of suspicious-looking transactions in the accounts of the now-grounded airline, people in the know said.

The department has engaged chartered accountancy firm Shah & Taparia to carry out the special audit, the people said.

“While the investigation wing in its report has detailed out tax irregularities of over Rs 880 crore, the assessment wing has found a lot of other suspicious transactions which amount to over Rs 5,000 crore … these transactions require a thorough probe and a special audit has been ordered,” said an official in the know.