Kesoram Industries Limited has informed the Exchange about Action(s) initiated or orders passed

Kesoram Industries has received an Income Tax Assessment Order under section 143(3) read with section 144B of the Income Tax Act, 1961, raising a demand of Rs. 70.54 Crores for Assessment Year 2024-25 (FY 2023-24). The tax authorities made certain additions to income and disallowed specific deductions the company had claimed in its tax return. The company considers these additions and disallowances 'prima facie erroneous' and states it has strong factual and legal grounds to nullify the entire demand. No penalty or restriction has been imposed as part of the order. Kesoram plans to file an appeal before the Commissioner of Income Tax (Appeals) / National Faceless Appeal Centre, may also file a writ petition before the High Court, and intends to file a rectification application — all within prescribed timelines.