SC dis­misses King­fisher plea against tax de­mand

The Pak Banker - - INTERNATIONAL BUSINESS/SPORTS -

The Supreme Court Fri­day dis­missed a pe­ti­tion by busi­ness baron Vi­jay Mallya's King­fisher Air­lines chal­leng­ing the Kar­nataka High Court or­der di­rect­ing it to de­posit 50 per cent of the amount de­manded by the in­come tax de­part­ment and pro­vide a bank guar­an­tee for the bal­ance.

Dis­miss­ing the pe­ti­tion, a bench of Jus­tice R.M. Lodha, Jus­tice J. Che­lameswar and Jus­tice Madan B. Lokur said the tax de­mand raised by the in­come tax de­part­ment per­tained to tax de­ducted at source from the pay­ments made to its staffers by the KFA.

As it dis­missed the plea, the court also turned a cold-shoul­der to the plea by se­nior coun­sel Har­ish Salve seek­ing the ad­journ­ment of the hear­ing for an­other three weeks to en­able the air­lines to mo­bilise funds to meet the tax de­mand.

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