Orient Cement Limited Receives Income Tax Order, Plans Appeal
Orient Cement Limited announced it received an order from the Income Tax Authority on March 31, 2026, related to the Assessment Year 2023-24. The order, issued under sections 143(3) and 144C(3) of the Income Tax Act of 1961, assesses a tax demand of Rs. 3,19,81,466.The tax demand primarily stems from a Transfer Pricing Adjustment of Rs. 54,33,14,302 concerning the transfer of power from a captive unit to a manufacturing unit. The company believes the order is erroneous and intends to file an appeal before the Income Tax Appellate Authorities.
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