Associated Alcohols & Breweries Ltd. has informed the Exchange about Action(s) initiated or orders passed
ASALCBR · price
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Associated Alcohols & Breweries has disclosed an income tax order received on March 25, 2025, from the Deputy Commissioner of Income Tax making additions to the company's income for Assessment Year 2018-19 (Rs. 8.58 crore) and protective additions for AY 2019-20 (Rs. 8.88 crore). The total addition of about Rs. 17.45 crore was made under Section 69A read with Section 115BEE of the Income Tax Act. The company has challenged the order for AY 2018-19 before the Madhya Pradesh High Court, which has directed the tax authorities not to implement the order without the court's permission. The matter for AY 2019-20 is also pending before the same High Court. The company, based on legal advice and an existing Supreme Court judgment, expects a favourable outcome and no material financial impact.
The tax demand of roughly Rs. 17.45 crore is significant on paper, but shareholders need not be alarmed — the High Court has already put a hold on enforcement, and the company believes the issue is settled by a Supreme Court ruling in its favour. The stock is unlikely to see a major negative reaction unless the appeal is actually lost, which the company does not expect.