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NDTV 1 vs Taxman 0: SC quashes I-T plea on reopening accounts, alleging sham transactions worth Rs 1, 127 crore

Updated : April 03, 2020 07:38 PM IST

The underlying rationale of the IT department appeared to be the allegation that between FY 2006-2007 and FY 2008-2009, NDTV had engaged in round tripping of Rs 1,127 crore.
Subsequent, to the notice for reassessment of NDTV's books of accounts, the IT department had also moved to provisionally attach assets of NDTV under Section 281B of the I-T Act.
The IT department had met with some initial success in the ITAT in 2015 and the Delhi High Court in 2017.
NDTV 1 vs Taxman 0: SC quashes I-T plea on reopening accounts, alleging sham transactions worth Rs 1, 127 crore

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