I-T dept freezes Kingfisher Airlines' bank a/cs: Sources

CNBC-TV18 learns that the I-T department has frozen Kingfisher's bank accounts over part payment of I-T dues, reports Sunanda Jayaseelan.

Kingfisher Airlines accounts had been frozen by the I-T department because they had an outstanding claim of nearly Rs 342 crore as TDS claims. These accounts were de-frozen after Kingfisher Airlines made an initial first payment of Rs 44 crore and then assured the I-T department that it would pay Rs 9 crore every week. It has been paying those Rs 9 crore, except for the past couple of weeks. CNBC-TV18 understands that they have made only part payment, only Rs 4.5 crore because this matter has come up before the ITAT. Kingfisher Airlines has moved the ITAT contesting the total amount of Rs 342 crore. Now, because of this part payment, sources, within the I-T department, say they have gone ahead and again frozen the accounts of Kingfisher Airlines. The ITAT in an order, on May 25, has said that amount of Rs 342 crore would be looked into again. It has now gone back to the I-T department and an assessing officer will look at that figure again. But at the same time sources, within the I-T department, say that there is no clarity on when Kingfishers banks accounts will be de-frozen, although it is now before the assessing officer.