Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bata India Limited has informed about Income Tax Order
Awaiting price reaction for this filing.
Bata India has disclosed receiving a Notice of Demand from the Income Tax Department's Assessment Unit under Section 156 of the Income-Tax Act, 1961. The notice relates to the Assessment Year 2022-23 and concerns the Total Income reported by the company. Additionally, penalty proceedings have been initiated under Section 270A of the Income-Tax Act for alleged under-reporting of income. The company received this order on May 2, 2025. Bata has stated that it believes it has a strong case to defend the matter before the appropriate authorities and does not expect any material financial impact from this development.
This is an initial tax demand and the company maintains it can successfully contest it without significant financial impact. Shareholders should monitor the outcome of the company's defence, but the management's confidence suggests limited near-term concern for the stock. Such tax disputes are common for large corporates and rarely translate into immediate financial liabilities if contested successfully.