Kokuyo Camlin Limited has informed the Exchange about Action(s) initiated or orders passed
KOKUYOCMLN · price
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Kokuyo Camlin has received an assessment order from the Income Tax Department for Assessment Year 2018-19, raising a total demand of approximately ₹1,62,96,90,500 (around ₹16.3 crore) including interest. The tax authority has alleged discrepancies in certain trade creditor balances, treated them as unexplained liabilities, and taxed the amounts under Section 115BBE, along with a re-computation of book profits under MAT (Section 115JB). The company has stated that it believes the order contains apparent errors in the re-computation of income and book profits. It will first file a rectification application with the tax department and, if unresolved, pursue an appeal before the competent appellate authority. The company has clarified that it does not expect any material impact on its financial position at this stage.
The ₹16.3 crore tax demand is a notable contingent liability, but the company is contesting it and expects no material financial impact. The stock may see mild short-term pressure, though the long-term effect depends on the outcome of the rectification/appeal process.