Baazar Style Retail Limited has informed the Exchange about Action(s) initiated or orders passed
STYLEBAAZA · price
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Baazar Style Retail received a revised income tax assessment order on August 6, 2025, cutting its tax demand for Assessment Year 2019-20 from ₹6.17 crore to ₹1.65 crore. The reduction of about ₹4.93 crore happened after the Income Tax Authority accepted the company's rectification request, acknowledging that advance tax, self-assessment tax, and TDS/TCS credits worth ₹4.93 crore were wrongly omitted from the original computation. The company had filed this rectification on March 28, 2025, against the original demand raised on March 26, 2025. The remaining disputed demand of ₹1.65 crore is still under appeal before the appropriate authority.
This is a positive outcome for shareholders as the tax liability has dropped by nearly 73% from the original demand, significantly reducing the potential cash outflow. The company still has a pending appeal on the residual ₹1.65 crore, but the financial impact is now far smaller than initially feared.