Koda to appeal against Rs.1,200 crore tax demand

"We do not agree with the assessment... we will appeal against the order," Geeta Koda told IANS over the phone. "This is a one-sided move. We have not been asked to present our side."

The assessment wing of the income tax department found that Koda had amassed assets worth Rs.3,300 crore. He has been asked to deposit Rs.1,200 crore in taxes within a month. The one month period of expire on Jan 31.

As per law, Koda can appeal to the income tax commissioner court against the order. According to Geeta Koda, there is no decision yet to move the commissioner's court or the high court. "Our lawyers will decide on the appeal," she said.

The multi-million graft and money laundering scam surfaced in 2009 when the income tax and Enforcement Directorate (ED) raided 69 places in the country, including Koda's homes. Some reports had pegged the scam at Rs.4,000 crore and some termed it worth Rs.2,500 crore. Now, the latest assessment puts the amount at Rs.3,300 crore.