Page 321 - KRCL ENglish

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Notes forming part of the Consolidated Financial Statements as at 31 March, 2020
v. Assessment of Income Tax for the Financial Year 2007-08 to 2014-15 are pending at
various level of Appellate Authority. However, considering the past Assessment and
existing substantial carry forward un-absorbed Depreciation loss of ` 1146.63 crores
(` 1372.65 Crore), there will not be any impact on nancials of the company.

vi. Against the demand of the Service Tax Department of ` 704.40 Crore and applicable
interest thereon for the period from 2009-10 to 2013-14, the corporation has led a writ
petition with CESTAT, Mumbai on 28th August 2019 as per the directive of High Court,
Mumbai challenging the same as unconstitutional and against the service tax law
being double taxation on business transaction between KRCL and Indian Railways.
Against the same the Corporation has deposited ` 10 Crore with the court.

vii. The TRACES Portal of Income tax department shows demand of ` 0.60 Crore (` 1.12
Crore) including interest. The same is on account of mismatch in credit of TDS paid
due to certain punching error. The management afrms the rectication of above-
mentioned amount.

viii. There is demand of ` 19 crores (` 19 crores) towards Value Added tax by the
department of Commercial tax for work of Road Over Bridge (ROB) executed in
Jharkhand state which has been challenged by the Corporation.

ix. 103 (435) cases relating to land have been led by the landowners in several Courts
for revision of amount of the award passed by the concerned SLAOs of the respective
State Governments involving amount of ` 12.79 Crore (` 46.98 Crores) (approx.). The
Corporation has deposited ` 6.75 Crore (` 22.16 Crore) with the Court including
Interest.

x. 458 (400) cases has been led for enhance Land Compensation payable to claimants
under section 28A of Land Acquisition Act, 1894 having nancial implication of ` 86
Crore (` 51 Crore)

xi. Total 69(66) personal claims pertaining to railway accidents are pending with Tribunal
amounting to ` 5.52 Crore (` 5.28 Crore).

b. Contingent Asset: NIL

41. Capital and Revenue Commitments

Estimated amount of contracts remaining to be executed on account of capital not
provided for, are ` 618.27 Crore (` 832.06 Crore) .

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