Filing of SLP against the vacation of stay of recovery proceedings granted by the Karnataka High Court in the case of Kingfisher Airlines

Filing of SLP against the vacation of stay of recovery proceedings granted by the Karnataka High Court in the case of Kingfisher Airlines

Letter, dated 19-10-2012

Kindly refer to the above.

2. In this regard, I am directed to submit as under:

A Joint meeting of CBEC and CBDT was held on 10th Oct., 2012, under the Convenorship of Chairperson, CBDT regarding appropriate steps to be taken for recovery of taxes due from M/s. Kingfisher Airlines Ltd. (KFA). It was informed that the Karnataka High Court vide order dated 26-9-2012 have restrained the Department from making further recovery and have permitted KFA to operate their accounts. As a result, the Income Tax Department has lifted the attachments of various bank accounts of KFA.

3. Accordingly, it has been decided in the meeting that a proposal should be moved by the CCIT(CCA) Bangalore for filing SLP against the vacation of stay of recovery proceedings granted by the Karnataka High Court. The SLP proposal should also contain the details of service tax dues against KFA (requisite details may be obtained from CBEC) so as to apprise the court of the magnitude of pending dues to the Government.

4. In view of the above, it is requested that the needful may be done at the earliest and report be submitted to the Board.