IRB Infrastructure Developers Ltd has informed BSE that the Income Tax Department conducted survey under Section 133A of the Income Tax Act, 1961 at Registered Office of IRB Surat Dahisar Tollway Pvt. Ltd., IDAA Infrastructure Pvt. Ltd. & Mhaiskar Infrastructure Pvt. Ltd. - wholly owned subsidiaries of the Company, to verify these companies deposit of toll collection of 8th & 9th November on 11th November, 2016 post the recent demonetisation announced by the Government of India. The Company have cooperated with them and have provided information sought by them.
As the deposits were found to be in line with past toll collection, the Company do not expect any additional tax liability arising out of the survey conducted by the Income Tax Department.
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