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Madras HC stays I-T proceedings in Kalaignar TV 2G case
Entertainment
Kalaignar TV is challenging fresh income tax proceedings in the Madras High Court, all tied to the old 2G spectrum scam and a ₹200 crore transaction from way back in 2009-10 and 2010-11.
The I-T department sent out a new summons this August, but for now, the court has paused things with an interim stay.
The company argues the matter was settled long ago
The company argues these financial issues were already handled years ago when they reported losses that tax officials first disputed, then reassessed in 2013.
The Income Tax Appellate Tribunal (ITAT) set aside the assessment order in 2016 and remitted the matter for de novo consideration.
Even though a Delhi court cleared them in the main 2G case, Kalaignar TV says reopening these investigations just isn't fair or needed anymore.