New Delhi Television Ltd (NDTV) on Saturday said the Delhi High Court has directed the tax department not to take any coercive action against it for a period of 10 days in case the assessing officer in the Rs 436.80 crore tax case for 2009-10 rejects the stay.
The Income Tax Department has levied a penalty of Rs 436.80 crore for assessment year 2009-10 on NDTV and the news channel has filed a writ petition against the order by the I-T Department.
"In this regard we wish to inform you that the company has now received the copy of the court order wherein the tax department has been directed not to take any coercive action against the company for a period of 10 days in case of rejection of stay by the Assessing Officer," NDTV said in a regulatory filing.
The company has been slapped I-T notice under section 271 (1) (c) of the I-T Act which provides for levying penalty in case an assessee has concealed income particulars or furnished inaccurate details.
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