SRF Limited Details Pending Litigation with Income Tax Department for Assessment Year 2022-23
SRF Limited provided details regarding pending litigation for Assessment Year 2022-23, noting the dispute involves the Income Tax Department. The company stated that the management does not believe the order is legally sustainable and that suitable legal remedies are currently being pursued.The details of the litigation are summarized below:
| Litigation Detail | Description |
|---|---|
| Assessment Unit | Income Tax Department |
| Expected Financial Implications | In the opinion of the management, the order is not legally sustainable. Accordingly, suitable legal remedies as stated above are being pursued. There is no immediate impact on financial, operational or other activities of the Company. |
| Quantum of Claims | Not Applicable |
The company stated that the demand arose from a technical error on the part of the Income Tax Department, for which a rectification application has been filed. Consequently, the management indicated that the matter was not considered material for disclosure to the stock exchanges. Nevertheless, the disclosure was issued as a measure of corporate governance and transparency.
SRF Stock Price Movement
SRF Limited shares today shed 1.39% to settle at ₹2396, marking a significant retreat in post-market trading. The sell-off pushed the equity to its 52-week low, occurring alongside a volume of 1.00 million shares traded today.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.