Business Standard

WHAT TAX DEPT SAYS

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■ The assessee did not obtain any stay in respect of the demand raised, says the dept

■ The tax dept said that TravelKhan­a did not seek a “stay” in respect of the tax demand the former had raised under Section 68 of I-T Act.

■ “Since there was no stay against recovery and the demand had become due, the department recovered ~36 lakh after attaching the bank accounts of the assesse,” its release said.

■ It also said that TravelKhan­a did not submit the mandatory certificat­ion from the department of industrial policy and promotion that would prove its status as a start-up

■ This makes the food start-up ineligble to get the benefit of the December 24 notificati­on that promised that coercive action would not be taken, CBDT said

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