N R Agarwal Industries Limited has informed the Exchange that pursuant to Regulation 30 read with sub-Para 8 of Para B of Part A of Schedule III of the SEBI Listing Regulations, a demand notice dated April 29, 2025 has been received from Assessment Unit of Income Tax Department with respect to Company s income tax return for Assessment Year 2022-23. The Demand is not enforceable as the same is a mistake apparent from record and the Company is filing rectification application under section 154 of the Income Tax Act, 1961.
NRAIL · price
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On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250 and 2.1 pts less than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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N R Agarwal Industries has received a demand notice dated April 29, 2025 from the Income Tax Department's Assessment Unit concerning its income tax return for Assessment Year 2022-23. The company states that the demand is not enforceable because it is a mistake apparent from record. It is filing a rectification application under Section 154 of the Income Tax Act, 1961 to correct the error. The company has disclosed this to the stock exchange as required under SEBI Listing Regulations.
Since the company is treating the demand as a clerical error and seeking rectification rather than paying, there is likely no immediate financial hit for shareholders. However, investors should monitor the outcome of the rectification application to confirm the demand is indeed set aside.