Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
KRSNAA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Krsnaa Diagnostics has disclosed tax assessment orders issued by the Assistant Commissioner of Income Tax, Pune, for Assessment Years 2018-19 and 2019-20. These orders were raised following a search conducted by Income Tax Authorities on the company's premises in July 2022. The company faces tax demands totaling Rs. 4.04 crore for AY 2018-19 and Rs. 7.27 crore for AY 2019-20, aggregating to Rs. 11.30 crore as a contingent liability. The company has challenged these orders before appellate and judicial forums and states it is confident of defending the matter based on facts and merits. The disclosure was delayed as the requirement was identified during a subsequent internal compliance review.
The Rs. 11.30 crore contingent liability could materially impact financials if realized, though the company reports no operational disruption currently. Shareholders should monitor litigation outcomes as the amounts are significant relative to the company's size.