Delta Corp Tax Notices: Bombay High Court Bench forbids final orders by tax authorities without permission
GST Intelligence, Hyderabad. As per the demand, notices were sent to Delta Corp and its subsidiaries as follows - Delta Corp: close to ₹11,140 crore; subsidiary Highstreet Cruises and Entertainment: near ₹3,290 crore; and subsidiary Delta Pleasure Cruise Company: about ₹1,766 crore.
On September 25, Delta Corp received a notice for a tax shortfall of ₹11,140 crore, whereas, its subsidiaries were issued notices for an amount totalling ₹5,682 crore. The alleged shortfall in the payment of tax pertained to the period between July 2017 and March 2022.
Delta Corp also received fresh notices of alleged shortfall in the payment of Goods and Services Tax (GST) to the tune of ₹6,384 crore, as per a regulatory filing made by the casino chain operator on October 14. Delta Corp, the casino operator, on Oct 11 reported a 1.68 percent rise in its Q2FY24 net profit to ₹69.4 crore from ₹68.25 crore in a year ago period.
The company’s consolidated revenue during the quarter rose 0.2 percent to ₹270.6 crore from ₹270 crore, year-on-year (YoY). On the operational front, the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased by 0.1 percent to ₹100.3 crore in Q2FY24 from ₹100.4 crore in Q2FY23.
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