Sarla Performance Fibers Limited has informed the Exchange about Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Receipt Of Rectification Order Under Section 154 Of The Income-Tax Act, 1961 Along With A Notice Of Demand U/S 156
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Sarla Performance Fibers Limited has disclosed to the stock exchange that it has received a Rectification Order under Section 154 of the Income-Tax Act, 1961, along with a Notice of Demand under Section 156. Section 154 relates to the correction of mistakes in income-tax orders, while Section 156 is a formal demand notice for payment of tax dues. The company has made this disclosure under SEBI Listing Regulations. Specific details of the tax amount or the assessment year involved are not provided in the headline.
This indicates a tax-related demand from the income-tax department, which could result in a financial outflow for the company. Investors should watch for further disclosures with details on the demand amount and the company's response, as material tax liabilities can affect earnings and cash flows.