New Delhi Television Limited (NDTV) has received a Notice of Demand of ₹443.28 crore for Assessment Year 2008-09 from the Deputy Commissioner of Income Tax (Central Circle -5), New Delhi. This demand has been raised under Section 143(3) read with Section 144C(3) of the Income-Tax Act, 1961. This development is in continuation of previous disclosures. Earlier, the company had informed that its Special Leave Petition against a Delhi High Court judgment was dismissed by the Supreme Court, granting liberty to raise contentions before the appropriate forum regarding reassessment proceedings under Section 148 of the Income-Tax Act for AY 2008-09. Additionally, the Principal Commissioner of Income Tax (Central), Delhi-1 had previously stayed the recovery of demand for the same assessment year. NDTV is currently preparing to file an appeal before the Commissioner of Income Tax (Appeals) against the recent order and demand. The company will also file an appropriate application for a stay of the demand. NDTV maintains that it has strong merits in the case and is committed to pursuing all legal remedies to protect its rights and interests.
