Styrenix Performance Materials Limited Receives Order from Income Tax Department
Styrenix Performance Materials Limited, formerly known as INEOS Styrolution India Ltd., announced receipt of an order from the Assessment Unit, Income Tax Department on March 26, 2026.The order, issued under Section 143(3) read with Section 144B of the Income Tax Act, pertains to a faceless assessment for the Assessment Year 2024-25. The assessed demand is INR 2,14,44,080. The company received the order at 11:01 PM on March 25, 2026.
According to Styrenix Performance Materials Limited, the order is not expected to have a material impact on the company’s financial position, operations, or other activities. The company intends to evaluate the matter and will file an appeal before the Commissioner of Income Tax (Appeals) within the prescribed timeframe.
| Sr No. | Particulars | Disclosure |
|---|---|---|
| 1 | Name of the authority; | Assessment Unit, Income Tax Department |
| 2 | Nature and details of the action(s) taken, initiated or order(s) passed; | 143(3) read with section 144B of the Income tax Act w.r.t. faceless assessment for AY 2024-25. Demand of INR 2,14,44,080 |
| 3 | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority; | March 25, 2026; 11:01 PM |
| 4 | Details of the violation(s)/ contravention(s) committed or alleged to be committed; | Refer Sr. No. 2 above. |
| 5 | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | The order doesn't have any material impact on the financial position, operations or other activities of the Company. The order is appealable and the Company is in the process of evaluating the merits of the matter and will exercise its right to file an appeal before the Commissioner of Income Tax (Appeals), within the prescribed timelines. |
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