CBDT chairman KV Chowdary said the department is aiming to recover the tax and a penalty might be imposed as well.
Low-cost airline SpiceJet is under the Income-Tax department's scanner for suspected violations of TDS and distribution of Form-16 to its employees, said CBDT chairman KV Chowdary.
He said that the department is aiming to recover the tax and a penalty might be imposed as well. Chowdary however did not disclose the amount.
SpiceJet on Wednesday said it has crossed Jet Airways in market share figures to become India's number 2 carrier . In a release, the company said it had 20.9 percent market share, compared to 19.6 percent for the Jet Airways-JetLite combine in July. Industry leader IndiGo's market share stood at 30.7 percent, marginally lower than 31.6 percent in the previous month.
SpiceJet stock price
On August 22, 2014, SpiceJet closed at Rs 14.78, up Rs 0.22, or 1.51 percent. The 52-week high of the share was Rs 23.05 and the 52-week low was Rs 11.10.
The latest book value of the company is Rs -22.24 per share. At current value, the price-to-book value of the company was -0.66.
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