Sunlite Recycling Industries Receives Tax Demand Order for Undisclosed Income
Sunlite Recycling Industries Limited has announced the receipt of a Demand Order from the Income Tax Department concerning undisclosed income. The order was received by the company on May 30, 2026, from the Deputy Commissioner of Income Tax, Central Circle-3, Vadodara.The demand order was issued under Section 156 and 158BC (1) (C) read with Section 143(3) of the Income Tax Act, 1961, and is dated May 28, 2026.
The assessment covers the block period spanning from April 1, 2018, to April 23, 2025. The primary allegation relates to undisclosed income generated during this period.
Details of the Tax Demand Order
The key details regarding the tax demand order are summarized below:| Parameter | Detail |
|---|---|
| Authority Issuing Order | O/o Deputy Commissioner of Income Tax, Central Circle-3, Vadodara |
| Date of Order | May 28, 2026 |
| Assessment Period (Block Period) | April 1, 2018, to April 23, 2025 |
| Financial Demand | Rs. 7.11 Crores (tax on undisclosed income) |
| Date of Receipt of Order | May 30, 2026 |
Following the passing of the final order, Sunlite Recycling Industries Limited plans to file an appeal against the determination. The company stated that it will contest the order, citing procedural lapses, lack of proper opportunity for representation, and an excessive and unjustified determination of tax.
In terms of operational impact, the company confirmed that the matter will be dealt with through due legal processes. Furthermore, Sunlite Recycling Industries Limited asserted that there will be no impact on the company's current finances.
SUNLITE Stock Price Movement
On Friday, Sunlite Recycling Industries Limited shares slipped by 5.00% to settle at ₹460.05. The stock traded on a volume of 24,900 shares during the session.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.
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