IndiGo faces INR 944.20 cr penalty from Income Tax

InterGlobe Aviation (BSE:INDIGO) announced today it has received a penalty order from the Income Tax Authority for INR 944.20 Cr relating to the Assessment Year 2021-22. The company disclosed this development as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. InterGlobe Aviation disputes the order, asserting it is not in accordance with the law. The company intends to pursue all available legal remedies and maintains that the order will not have a significant impact on the company's financials, operations, or other activities.