MEXICO CITY (Reuters] – Mexico’s Grupo Slinas, which is the parent company to broadcaster TV Azteca said Tuesday it will continue to fight in a legal dispute. The result of that litigation was a decision to make tax authorities pay 2.447 BILLION pesos ($120 M).

On Tuesday, the Federal Court of Fiscal and Administrative Justice ruled that TV Azteca owned by Ricardo Salinas must pay the Tax Administration Service income tax fines and surcharges according to local media.

Mexican authorities rejected an earlier challenge filed by the broadcaster to avoid paying a tax deduction from over a decade back.

The TFJA ruled that the company had incorrectly calculated the gains and losses from selling shares.

Grupo Sanlinas (a consortium that comprises Totalplay telecoms and Grupo Elktra banking and retailing) stated, “We will continue exercising our right to protect ourselves against what we consider to be erroneous charges.”

Raquel Buenrostro is the head of Mexico’s Tax Administration Service. He stated in a press conference last week that it was not planned to seize Salinas’ assets.

($1 = 20.3900 Mexican pesos