R R Kabel Limited has informed the Exchange regarding Orders received from the Income Tax Department.
RRKABEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
R R Kabel has received re-assessment orders from the Income Tax Department's Deputy Commissioner in Vadodara for Assessment Years 2015-16 and 2016-17. The orders raise a total income tax demand of ₹5.44 Crores (including ₹4.27 Crores in interest) due to certain additions and disallowance of expenditures under various sections of the Income Tax Act. No penalty, restriction, or sanction has been imposed. The company has stated it intends to file an appeal against the orders and does not expect any material impact on its financials, operations, or other activities.
The tax demand of ₹5.44 Crores is small relative to R R Kabel's scale and the company expects no material financial impact. The matter is a routine tax re-assessment from older years that the company plans to contest, so it is unlikely to move the stock meaningfully.