Nandan Denim Limited has informed the Exchange regarding 'The Company has received an Assessment Order from Income Tax Department.'.
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Nandan Denim Limited has received an Assessment Order from the Income Tax Department. An assessment order is a routine communication from the tax authority that determines the company's tax liability for a particular year after reviewing its returns. The announcement does not specify the financial amount or whether the company agrees with the order. The company may choose to file an appeal before the appropriate appellate authority if it disagrees with the assessment. Further details on the quantum of tax demand, if any, are awaited from the company.
For shareholders, this is a tax-related disclosure and not an indication of business trouble on its own. However, any additional tax demand could affect future earnings, and investors should watch for further updates on the demand amount and the company's response.