ByteDance to continue challenging allegations of tax evasion: Report

ByteDance

TikTok's parent company ByteDance will continue to challenge and litigate the indirect tax department's allegations of tax evasion, The Economic Times reported.

Sources however did not specify the Chinese company's next course of legal action, the report said.

Moneycontrol could not independently verify the story.

"The company has neither made a commitment to settle with tax authorities nor agreed to deposit money to the tax authorities until the ongoing tax investigation matter is fully resolved. The company will continue to litigate its case on merit with the tax authorities," one source said.

Also read: ByteDance may sell TikTok's India business to Glance

The Bombay High Court on April 6 permitted ByteDance to access its bank accounts only up to Rs 79 crore, and pay the amount it owes to Goods and Service Tax (GST) authorities.

Tax authorities had in March ordered a freeze on four bank accounts of ByteDance.

ByteDance did not respond to queries, as per the report.

Legal experts told the publication that ByteDance can now approach either the tax department or the Supreme Court.