|
| Exchange Received Time 08/09/2018 14:47:48 Exchange Disseminated Time 08/09/2018 14:47:56 Time Taken 00:00:08 | Dear Sirs,
We wish to inform you that on September 7, 2018, NDTV Networks Limited ('Networks'), a subsidiary of the Company, received an order dated August 28, 2018 ('the Order') issued by the Commissioner of Income Tax (Appeals) wherein he upheld the order of assessing officer (AO). AO disallowed the expenses of approximately Rs. 3.62 crores claimed by Networks for Assessment year 2014-15 on the ground that the Company has not done any business being an investment Company. As per the said Order, the tax demand is only of Rs. 3,180/-. However, based on this Order, further penalties may be imposed on Networks.
Networks is currently examining the aforesaid Order and the legal options available to it. Networks will seek appropriate legal advice and will take necessary action(s) accordingly.
You are requested to take the same on records
|
|
|