Dhanuka Agritech Limited has informed the Exchange about General Updates
DHANUKA · price
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Awaiting price reaction for this filing.
Dhanuka Agritech has received an assessment order from the Assistant Commissioner of Income Tax, New Delhi, for Assessment Year 2018-19, raising a demand of Rs. 83.71 lakhs (including tax and interest). The demand stems from the disallowance of a Section 80G claim related to the company's CSR (Corporate Social Responsibility) expenditure. The company has stated that, in its view, the demand is not maintainable and has already filed a writ petition in court to challenge the order. Management has clarified that there is no expected material impact on the company's financials, operations, or other activities as a result of this order.
The financial impact is relatively small (Rs. 83.71 lakhs is minor for the company) and the company is actively contesting it in court, so near-term effect on share price is likely limited. However, investors should monitor the outcome of the writ petition for any adverse ruling.