JK Lakshmi Cement Limited has informed the Exchange about disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
JKLAKSHMI · price
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JK Lakshmi Cement has informed the stock exchanges about a Rectification Order received on July 30, 2025, from the Assistant Commissioner of Income Tax, Circle 5(1), Kolkata, relating to the Income Tax Assessment Order dated March 17, 2025 for FY 2021-22. The original assessment order contained certain mistakes in the tax computation, which have now been rectified. As a result, the income tax demand of Rs 45.60 crores raised on the company has been reduced to nil. No penalty, restriction, or sanction has been imposed, and the company has stated that no further action is required on its part.
This is a positive outcome for shareholders, as a significant Rs 45.60 crore tax demand has been fully nullified due to errors in the original assessment, with no financial implications for the company. The development removes a potential liability overhang and should be viewed favorably by investors.