Schneider Electric Infrastructure Limited has informed the Exchange about Action(s) taken or orders passed
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Schneider Electric Infrastructure Limited received an order from the Deputy Commissioner of Income Tax, Vadodara, giving effect to the Commissioner of Income Tax (Appeal)'s order. The revised tax demand for Assessment Year 2021-22 has been reduced from the original ₹21.46 crore to ₹13.83 crore. The company stated it will evaluate legal options and file an appropriate response to further challenge the order. The company clarified it does not anticipate any immediate impact on its financials, operations, or other activities from this order. This is a continuation of a disclosure originally made in September 2024 about the initial assessment order.
The tax demand was reduced on appeal, which is a partial positive for the company. However, a demand of ₹13.83 crore still stands and the company plans to appeal further. Shareholders should monitor the outcome of the next legal step, as the final liability could still be material if the appeal is unsuccessful.