Kokuyo Camlin Limited has informed the Exchange about Action(s) initiated or orders passed
KOKUYOCMLN · price
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Kokuyo Camlin Limited received a rectification order from the Deputy Commissioner of Income Tax Circle 2(1)(1), Mumbai, dated March 30, 2026, modifying an earlier reassessment order for Assessment Year 2018-19. The original reassessment demand of Rs. 162.97 crore has been significantly reduced to Rs. 34.05 crore (including interest). The revised demand represents an incremental tax liability of Rs. 3.05 crore compared to the original assessment order dated April 16, 2021. The company believes it has strong grounds to contest the residual demand and is already in appeal against the original assessment order, planning to file additional grounds for appeal before the appropriate appellate authority.
The company does not expect any material impact on its financial position or operations at this stage, as it intends to contest the residual demand through legal recourse. The significant reduction in tax demand from Rs. 162.97 crore to Rs. 34.05 crore is a positive development for shareholders.