Announced Wed, 1 Jul · 23:10 IST
Income Tax Department passes assessment order demanding Rs 41.07 crore
Regulatory & Legal View source PDF
PARKHOTELS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+4.7%1-day move
₹119.40
prior close
₹120.51
base price
After-mkt
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AI summary
Income Tax Department has passed an Assessment Order for AY 2024-25 against the company, raising a tax demand of Rs 41.07 crore (including interest) on account of certain disallowances and additions under various sections of the Income-tax Act. The company plans to file an appeal before the National Faceless Appeal Centre within prescribed timelines. It believes it has strong factual and legal grounds and expects a substantial portion of the demand to not sustain in appeal.
Likely market impact
Tax demand of Rs 41.07 crore but company plans to appeal and expects no material impact. Monitor appeal outcome.