Tega Industries Subsidiary Receives ₹1,211.41 Crore Tax Order
Tega Industries Limited announced that its wholly owned material subsidiary, Tega McNally Minerals Limited (TMML), has received an Assessment Order from the Assistant Commissioner of Income Tax, Circle 1(1), Kolkata. The order, issued March 30, 2026, pertains to the period April 2017 to March 2018 (Assessment Year 2018-19) and includes a total tax demand of ₹1,21,14,12,580, including interest.The order was passed under Section 143(3) read with Section 147 of the Income-tax Act, 1961. The additions and disallowances relate to reconciliation matters and the allowability of certain expenditures.
According to Tega Industries, the order has no material impact on the financials, operations or other activities of TMML or the Company. TMML intends to appeal the order to seek relief.
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.