AMBUJA CEMENTS LTD. - Order from the Jodhpur Bench of the Rajasthan High Court
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| 23 Dec 2014 | |
| Ambuja Cements Ltd has informed BSE that the Company availed Sales Tax incentives under the Incentive Schemes of the State of Rajasthan for the period 2001-02 to 2008-09 pursuant to the Order passed by the Hon'ble Board of Industrial and Financial Rehabilitation (BIFR) while sanctioning the Scheme of Rehabilitation of erstwhile Ambuja Cements Rajasthan Ltd. which was subsequently merged with the Company.<BR><BR>The Assistant Commissioner, Commercial Taxes Department, Rajasthan issued Demand Notices for Rs. 248 crores (including the interest of Rs. 134 crores) by rejecting the Companys claim of availing Sales Tax incentives under the said BIFR Order.<BR><BR>The Company filed Writ Petitions in the Jodhpur bench of the Rajasthan High Court challenging the Demand Notices. The Honble High Court passed an Order dated December 19, 2014 dismissing the Writ Petitions filed by the Company.<BR><BR>The Company have filed a Special Leave Petition in the Honble Supreme Court challenging the Rajasthan High Courts Order in view of the merit in our case as per the opinion of Senior Counsel. | |
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