Received final assessment order from Income Tax Department for AY 2023-24 as per details attached.
JSWDULUX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
JSW Dulux received a final assessment order from the Income Tax Department for Assessment Year 2023-24 on May 11, 2026. The order includes tax additions of Rs. 111.63 crore primarily related to transfer pricing adjustments, AMP expenses, R&D expenses, and contract R&D expenses. A tax demand of Rs. 36.46 crore has been raised, comprising Rs. 28.64 crore in tax and Rs. 7.82 crore in interest. The Income Tax Department has also initiated penalty proceedings under Section 270A of the Income Tax Act separately. The company plans to challenge this order before appropriate appellate authorities.
The Rs. 36.46 crore tax demand could create a contingent liability if the company loses its appeal. However, management believes it has strong merits and expects no material financial impact.