I-T dept claims Rs 246 cr dues from Sesa Goa

The firm had reported Rs 370.54 crore net profit in the December quarter on a revenue of Rs 2,019 crore.

FP Archives|Dec 20, 2014, 06:39:37 IST

New Delhi: The Income Tax Department has sought Rs 246 crore in dues from Vedanta Resources subsidiary Sesa Goa, while the company said it is mulling legal recourse against the demand.

"The Income Tax Department had raised a demand for Rs 246 crore disallowing certain claims of the company in December 2011 during regular assessment proceedings," Sesa Goa said in a communique to the Bombay Stock Exchange.[caption id="attachment_223587" align="alignleft" width="380" caption="Missing dues. Reuters"][/caption]

Stating that no account of the company has been frozen, Sesa Goa said that it has taken legal advice, which strongly supported the company.

"...accordingly, no provision has been made against those demands. The company will take all necessary legal steps in normal course to quash these demands," it said.

Sesa Goa, the largest iron ore miner in the country in the private sector, had reported Rs 370.54 crore net profit in the December quarter on a revenue of Rs 2,019 crore.

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