EPACK Durable Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI Listing Regulations, 2015.
EPACK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
EPACK Durable Limited has received an income tax assessment order for Assessment Year 2023-24 (Financial Year 2022-23) from the faceless Assessing Officer, Income Tax Department. The order has made additions to taxable income aggregating to ₹18.89 Crores, resulting in a total tax demand of ₹29.03 Crores on the company. The assessment relates to certain disallowances made by the tax authority. The company has stated that no penalty has been imposed under the order. The company is in the process of filing a rectification application before the Jurisdictional Assessing Officer and an appeal before the Commissioner of Income Tax (Appeals). The company believes the demand is not sustainable and has strong grounds to challenge it at the appellate level.
A ₹29.03 Crore tax demand represents a notable financial exposure, though the company has options to contest it through rectification and appeal. If the demand survives, it could impact near-term cash flows; however, since the company intends to appeal and views the order as contestable, the immediate impact on share price may be limited. Investors should track the outcome of the appeal proceedings.