Krsnaa Diagnostics Limited has informed the Exchange about General Updates
KRSNAA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Krsnaa Diagnostics has disclosed assessment orders and demand notices issued by the Assistant Commissioner of Income Tax, Pune, for Assessment Years 2018-19 and 2019-20. Tax demands total Rs. 4.04 crore for AY 2018-19 and Rs. 7.27 crore for AY 2019-20, aggregating Rs. 11.30 crore in contingent liability. This follows a search conducted by Income Tax Authorities under section 132 of the Income Tax Act on July 29, 2022. The company states it has challenged the orders before appellate/judicial forums and is confident of defending the matter. The disclosure was delayed and identified during a subsequent internal compliance review. No operational disruption has been reported, though Ind AS 37 provisioning will be evaluated.
The Rs. 11.30 crore tax demand represents a material contingent liability that could impact financials if upheld. However, since the company has challenged the orders and expects a favorable outcome, immediate stock impact may be limited unless further adverse developments occur.