Swiggy, however, has expressed confidence in its legal standing, stating in a regulatory filing that it believes it has strong arguments against the order and is planning to file a review or appeal. The company assured stakeholders that the issue would not have any significant impact on its finances or operations.
In addition, Swiggy received another assessment order from the Deputy Commissioner of Income Tax, Central Circle 1(1), Bangalore, demanding an additional Rs 158 crore. This order pertains to issues such as cancellation charges paid to merchants, which were disallowed under Section 37 of the Income-tax Act, 1961, and the failure to declare interest income from income tax refunds.
Despite these tax demands, Swiggy remains confident in its legal position and is determined to challenge both orders. The company reassured the public that neither of these tax matters would significantly impact its financials or day-to-day operations.
