Court tells I-T dept to maintain status quo on Kalaignar TV

CHENNAI: The Madras High Court on Tuesday directed the Income Tax department to maintain status quo on Kalaignar TV Private Limited in respect of the demand notice arising out of the I-T returns submitted by the firm. The petitioner said the channel in 2009-10 mentioned that it had incurred a loss of Rs 3.59 crore and Rs 6.39 crore for the subsequent year. But the I-T department determined the income at Rs 21.41 crore for 2009-10 and Rs 177.27 crore for 2010-11, in March, 2013.