Shree Cement Limited Receives Draft Assessment Order
Shree Cement Limited announced today, April 2, 2026, that it received a draft Assessment Order under section 144C (1) of the Income Tax Act, 1961, pertaining to fiscal year 2022-23. The order was received from the Assistant Commissioner of Income Tax, Central Circle, Ajmer, on March 31, 2026.The draft assessment order proposes disallowances and additions to the returned income, potentially leading to a demand of approximately Rs. 149 Crs (excluding interest), which will be adjusted against pending refunds due to the company.
According to Shree Cement Limited, the company, in consultation with its legal counsel, believes the disallowances are not sustainable and will file objections against the draft assessment order. The company has the option to dispute the resolution panel or appeal before the Commissioner Appeals.
The company does not anticipate a major impact on its financial, operational, or other activities due to the draft assessment order.
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