INSUBCONTINENT EXCLUSIVE:
New Delhi: The Income Tax Department on Wednesday began inspection of the books of crisis-hit Jet Airways for alleged falsification of
accounts and suspicious transactions, sources said.The full service carrier, which is grappling with financial woes, is already under the
scanner of markets regulator Sebi and the Corporate Affairs Ministry for various alleged lapses.Sources said the department began inspection
of the Mumbai-headquartered airline's books on Wednesday and is conducting the operations at four premises of the airline.Two of the
premises are in the national capital and the other two are in Mumbai, they added
As part of the survey operation, tax sleuths only visit the business premises of a firm and check their books of accounts
When contacted, an airline spokesperson said, "Income Tax officials are conducting a survey at Jet Airways' office"
The sources said the department is inspecting the books to ascertain whether there have been falsification of accounts, suspicious dealings
and other possible violations.Last month, the Corporate Affairs Ministry ordered an inspection of "books and papers" of Jet Airways.Jet
Airways reported a net loss of Rs 1,323 crore for the June quarter on August 27.The carrier is also under the regulatory lens for deferring
the results, which were initially scheduled to be announced on August 9.Jet Airways shares closed 5 per cent lower at Rs 241.20 on the NSE,
whose benchmark index Nifty shed 44 points, or 0.4 per cent, to settle at 11,234.
