Akzo Nobel India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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Akzo Nobel India has received a Draft Assessment Order from the Income Tax Department for Assessment Year 2023-24. The Assessing Officer has proposed additions of Rs. 111.63 Crores to the company's income, relating to corporate tax and transfer pricing provisions. The order, received on 8th March 2026, is currently a draft and not final. The company is analysing the order and plans to file its response or appeal within the stipulated time, in consultation with its tax consultants. The final financial impact and quantum cannot be determined until the assessment process concludes.
This is a draft, not a final order, so there is no immediate financial hit. However, if the additions are upheld after the company's appeal, it could result in a significant tax liability of up to Rs. 111.63 Crores plus interest and penalties, which would impact future earnings. Shareholders should monitor the company's response and any subsequent developments in the appeal process.