Income Tax dept slaps Rs 436.80 cr penalty on NDTV

New Delhi Television Ltd (NDTV) today said income tax department has levied a penalty of Rs 436.80 crore on the company for assessment year 2009-10.
The company today received an order under section 271 (1) (C) of Income Tax Act from the Income Tax Department levying penalty of Rs 436.80 crore for the assessment year 2009-10, NDTV said in BSE filing.
The company said it is currently examining the order and legal option available to it. It will take necessary action accordingly.
Section 271(1)(c) provides for levying penalty in case an assessee has concealed income particulars or furnished inaccurate details.