Income Tax Demand of Rs 9.54 Crore Dropped by Tax Department
MAWANASUG · price
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Mawana Sugars informed exchanges that the Income Tax Department has dropped a demand of Rs 9.54 crore against the company. The company had filed a rectification application under section 154 of the Income Tax Act after receiving a demand notice in August 2025. The department accepted the company's contentions, noting the error was apparent from records, and dropped the full demand amount.
Positive development as the company avoids a tax liability of about 9.54 crores, easing its financial position.