By Admin 
IndiGo Airline: The Income Tax Department has taken a big action on the airline company IndiGo (IndiGo) and fined Rs 944.20 crore. Describing this order as wrong, the company has spoken of challenging it in the court. This notice of the Income Tax Department received this notice to Indigo’s parent company Interglobe Aviation on Saturday. & nbsp;
What is the matter?
In a regulatory filing on Sunday, IndiGo said that the Assessment Unit of the Income Tax Department (Income Tax Authority) has passed an order to impose a fine of Rs 944.20 crore for 2021-22.
It further stated, this order has been passed on the basis of this wrong understanding that the appeal made by the company against its 143 (3) order has been rejected by the Income Tax Commissioner (Appeal) CIT (A), while the truth is that the matter is pending and the decision is to come.
The decline in IndiGo shares
According to the documents filed, the company is confident that the order passed by the Income Tax Authority is not in accordance with the law and is flawed. IndiGo has decided to take appropriate legal steps against this order. The company has also said that this order will not have any significant impact on their financial condition, operation or other activities. However, this has led to a slight decline in Indigo shares.
IndiGo’s stock closed at a level of Rs 5,100 with a decline of 0.54 percent on Friday. The company’s stock has jumped up to about 14 percent in the last one month. In the last 6 months, investors have been given 6.5 % returns in the last 6 months and up to 43 percent during one year. At the same time, talking about the long term of five years, it has given a return of up to 400 percent. & Nbsp;
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