SHREE CEMENT LIMITED has informed the Exchange regarding 'receipt of draft Assessment order u/s 144C (1) of the Income Tax Act, 1961 from the Income Tax Authority '.
SHREECEM · price
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Shree Cement Limited has received a draft Assessment Order from the Income Tax Authority under Section 144C(1) of the Income Tax Act, 1961. Section 144C applies to cases involving international transactions or specified domestic transactions where the transfer pricing officer proposes adjustments. This is a draft order, not a final one — the company now has the right to file objections before the Dispute Resolution Panel (DRP) within the stipulated time frame. No specific tax demand amount has been disclosed in the filing. The order marks the start of the formal dispute stage rather than a conclusive ruling.
Draft assessment orders are routine steps in transfer pricing disputes and do not represent a final demand yet. Shareholders should watch for the DRP's response or any disclosed tax amount, as a material adverse ruling could affect future earnings through higher tax outflows or provisions.