MOSCOW, September 10 (RAPSI) - The Moscow Commercial Court has rejected a suit filed by Gazprom Export, the Russian gas giant's export subsidiary, for illegal tax claims amounting to 4.1 billion rubles ($123 million), RAPSI reports from court.

The court has thus upheld a decision by the Interdistrict Inspectorate of the Federal Tax Service for Major Taxpayers No 2 to impose on the company tax sanctions for the underpayment of 560.1 million rubles ($16 million) in corporate taxes during the period from 2008 to 2009.

The company's claim for the abolition of penalties for the value of approximately 771 million rubles ($23 million) has been rejected too. Moreover, the court has upheld the act of the tax inspection relative to tax arrears for the value of 2.8 billion rubles ($84 million).

According to Gazprom Export, tax authority and experts violated the Tax Code. They particularly applied to the wrong market aligning market prices.

The experts' report has stochastic nature and doesn't confirm the company's guilt, Gazprom Export said.