Kesoram Industries Updates Income Tax Demand for AY 2024-25
Kesoram Industries Ltd has reported an update regarding its Income Tax Assessment Order pertaining to the Assessment Year (AY) 2024-25.The Company had previously received an Income Tax Assessment Order under section 143(3) read with section 144B of the Income Tax Act, 1961, which had initially raised a demand of X 70.54 Crores. At the time, the Company had represented against this demand before the appropriate authority.
The Company stated that, based on the order recently received, the demanded amount has been significantly reduced. The tax demand now stands at X 6.03 Crores, down from the initial figure of X 70.54 Crores.
Kesoram Industries is currently examining the reduced order and evaluating appropriate further legal remedies, if necessary, concerning the remaining balance demand. The Company affirmed that the matter does not result in any material adverse impact on its ongoing operations.
KESORAMIND Stock Price Movement
Shares of Kesoram Industries Limited are edging higher to ₹10.6 as of 12:49 PM today, rallying by 4.95% in live trading. The stock is trading amidst significant momentum, seeing over 1.28 million shares traded during the morning session.Source:
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