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 July 13, 2023, we would like to inform the details of the Notice received yesterday from Income Tax Department in respect of Assessment Year 2017-18 in Annexure A.
SAURASHCEM · price
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Saurashtra Cement Limited has disclosed that it received a notice from the Income Tax Department concerning Assessment Year 2017-18. The disclosure is being made in line with SEBI's Listing Obligations and Disclosure Requirements (LODR) regulations. The detailed information about the notice is provided in Annexure A of the filing. The specific demand amount, nature of the notice (scrutiny, demand, or penalty), and the company's stance have not been shared in the headline.
Tax notices on older assessment years can sometimes lead to additional tax demands, interest, or penalties, which may affect future cash flows. However, without details on the amount or nature of the notice, the financial impact remains unclear and is generally not material unless the demand is large.