Please find enclosed intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lancer Container Lines Ltd has disclosed receiving a Notice of Demand from the Income Tax Department's Assessment Unit. The demand amounts to Rs. 5,53,89,060 (approximately Rs. 5.54 crore) for Assessment Year 2024-25, raised under Section 143(3) read with Section 144B of the Income Tax Act, 1961. The Assessing Officer has made certain additions and disallowances to the company's returned income. The company has stated that it believes the demand is not maintainable and is in the process of preferring an appeal and seeking rectification against the order. The company asserts there is no immediate impact on its financials, operations, or other activities at this stage.
The tax demand of Rs. 5.54 crore could create a contingent liability if the appeal is not successful. However, since the company is contesting the order and has stated no immediate financial impact, the near-term effect on the stock may be limited unless the appeal outcome is unfavorable.