A Jet Airways India Ltd. aircraft passes over traffic as it prepares to land at Chhatrapati Shivaji International Airport in Mumbai (Photographer: Dhiraj Singh/Bloomberg)

Income Tax Department Surveys Jet Airways’ Mumbai, Delhi Offices 

The Income Tax Department today began inspecting the books of crisis-hit Jet Airways Ltd. for alleged falsification of accounts and suspicious transactions, sources said.

Sources said that the department today began inspection of the books and is conducting the operations at four premises of the airline. Two of the premises are in Delhi and the other two are in Mumbai, they added.

The full service carrier, which is grappling with financial woes, is already under the scanner of the Securities and Exchange Board of India and the corporate affairs ministry for various alleged lapses.

As part of the survey operation tax sleuths 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.”

Also read: Jet Airways’ Pilots Warn Of “Non-Cooperation” On Salary Payment

The sources said that 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 Aug. 9.

Shares of the airline Wednesday fell 3.67 percent to close at Rs 244.25 on the BSE.

Also read: Q1 Results: Jet Airways Reports A Loss For The Second Straight Quarter