Flipkart loses appeal against â¹110cr tax demand by I-T panel
Flipkart has lost the appeal against â¹110 crore tax demand by Income Tax panel, on behalf of the tax assessed for financial year 2015-16. Flipkart has been asked to deposit about â¹55 crore as tax and â¹55 crore as bank guarantee by February 28. The tax has been levied by the I-T department to make e-commerce companies reclassify discounts. 