A Bench of justices S Ravindra Bhat and A K Chawla also set aside the second order of the Income Tax Appellate Tribunal (ITAT) allowing the I-T department to place additional evidence before it, without issuing notice or giving a hearing to Prannoy Roy and his wife Radhika Roy.
According to the source, Ajay Singh, chairman and managing director for SpiceJet, will have controlling stake in NDTV of around 40 per cent and the promoters of NDTV - Prannoy Roy and Radhika Roy - will hold around 20 per cent in NDTV.
NDTV on Thursday issued a detailed statement on action being taken by CBI, ED and Income Tax department. It said: “The attempt to intimidate and paralyse NDTV has expanded to epic proportions in the last 24 hours. There are new attacks from the CBI and the Enforcement Directorate."
CBI issued a press release clarifying its stand and explained how the raid on NDTV promoters was in consonance with the law and done with prior approvals. The provisions of Prevention of Corruption Act, 1988 are applicable to the officials of private banks.