Noida Toll Bridge Company has received an Assessment Order for AY 2013-14 along with a demand notice of Rs 196.47 crore on April 01, 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.
Noida Toll Bridge Company has been promoted by Infrastructure Leasing and Financial Services (IL&FS) as a special purpose vehicle (SPV) to develop construct, operate and maintain the DND Flyway on a Build Own Operate Transfer (BOOT) basis.
