I-T department stakes first claim to Kingfisher Airlines' assets

The income tax department has asserted that its claim over the seized assets of Kingfisher AirlinesBSE -2.33 % ( KFABSE -2.33 %) will have priority over that of other lenders. The company deducted tax at source from employees' salaries and other payments for many years but failed to remit it to the government . The company owed the I-T department over Rs 350 crore, according to the chief commissioner of income tax, Bangalore.

The department attached all assets of the company and is rec ..


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