The special auditor of the income tax department has reassessed nearly Rs 1,200 crore of revenues of property developer DLF in financial year 2005-06 as additional income, the company said in a statement to the BSE.
In the event of appellate authorities not reversing the order of assessing officer, then the company has a tax liability of Rs 300 crore to Rs 400 crore, the company said.
The IT Department in December 2008 appointed a special auditor to evaluate the tax fillings for the company for FY 2005-2006.
"The company has got an expert opinion on the enhanced taxable income and is confident that this addition will not be sustained by the appellate authorities," DLF said.
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