In accordance with Clause 8 of Para B of Part A of Schedule III of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023, we would like to inform the details of the Appeal Order received today from Income Tax Department in respect of Assessment Year 2017-18 in Annexure A.This intimation will also be made available on the company s website path at https://scl.mehtagroup.com/sebi-regulations-disclosures Kindly take the same on your record and acknowledge.
SAURASHCEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Saurashtra Cement Limited received an Appeal Order from the Office of the Assistant Commissioner of Income Tax, Jamnagar under Section 250 of the Income-tax Act, 1961 for Assessment Year 2017-18. The order gave effect to an appellate order allowing the company's claim for deduction under Section 80IA, though it also included an enhancement of income. The company has already filed an appeal against the Appellate Order regarding the enhancement of income issue. Importantly, the company states there is no material impact on its financials, operations, or other activities due to this Appeal Effect Order.
The disclosure indicates no adverse financial impact from the tax order, suggesting the matter is routine and already being managed through the appeals process. The stock is unlikely to be affected as the company has confirmed no material impact.