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| Exchange Disseminated Time | Noida Toll Bridge Company Ltd has informed BSE that the Company has on April 01, 2016 received an Assessment Order for AY 2013-14 along with a demand notice of Rs. 196.47 crs. As discussed at a Meeting of the Committee of Directors, held on April 08, 2016, the Company is in the process of filing appeal contesting the assessment made by the Assessing Officer, erroneously interpreting the provisions regarding designated return and allotment of land. The tax demand is contingent.
Based on the legal advice, the Department’s stand is unlikely to withstand argument. |
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