REG - Noida Toll Bridge Co - Tax Demand <Origin Href="QuoteRef">NOID.NS</Origin>

Noida Toll BridgeAnnouncement

11/04/2016 07:07

RNS Number : 7429U
Noida Toll Bridge Co. Ltd.
11 April 2016
Noida Toll Bridge Company Limited
("NTBCL" or the "Company")
Income Tax Demand
On 1 April 2016, the Company received a Tax Assessment Order from the Indian Tax Department ("Department") for the financial year ended 31 March 2014 along with a demand notice of Rs. 1.96bn (approximately 20.9m). As discussed at a Meeting of the Committee of Directors held on 8 April 2016, the Company is in the process of filing an appeal contesting the assessment made by the Assessing Officer, erroneously interpreting the provisions regarding designated return and allotment of land. 
Based on legal advice received, the Company considers that the Department's assessment is without merit.
For further details please contact:
Noida Toll Bridge Company Limited 

Harish Mathur 
00 91 120 2516380


Cairn Financial Advisers LLP

Nominated Adviser

Sandy Jamieson, Emma Earl
00 44 207 148 7900

This information is provided by RNS
The company news service from the London Stock Exchange
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