R R Kabel Limited has informed the Exchange relating to Orders received from the Income Tax Department.
RRKABEL · price
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R R Kabel Limited has received tax assessment and re-assessment orders from the Income Tax Department (Office of the Deputy Commissioner of Income Tax, Central Circle-1, Vadodara) for three assessment years: 2017-18, 2020-21 and 2024-25. The total tax demand raised is approximately ₹12.68 Crores, comprising ₹6.21 Crores (including interest of ₹2.74 Crores) for AY 2017-18 and AY 2020-21, and ₹6.47 Crores (including interest of ₹1.16 Crores) for AY 2024-25. The demands are on account of certain additions and disallowance of expenditures under various sections of the Income Tax Act. The company has stated that it intends to file an appeal against these orders and does not expect any material impact on its financials, operations, or other activities. No penalty or restriction has been imposed pursuant to these orders.
The total tax demand of around ₹12.68 Crores is relatively small for the company and management has indicated no material impact on financials, as they plan to appeal. This is a routine tax dispute and is unlikely to have a significant effect on the stock price, though investors should monitor the appeal outcome.