SHREE CEMENT LIMITED has informed the Exchange regarding 'Income Tax Department had initiated re-assessment proceedings for FY 2016-17 & 2017-18, which was challenged by way of writ before the Hon'ble High Court of Rajasthan. The Hon'ble High Court has since quashed the aforesaid proceedings'.
SHREECEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Income Tax Department had previously initiated re-assessment proceedings against Shree Cement for financial years 2016-17 and 2017-18. The company challenged these proceedings by filing a writ petition before the Hon'ble High Court of Rajasthan. On 5th August 2025, the High Court quashed the re-assessment proceedings entirely. The company confirmed there is no financial implication resulting from this order, and no penalty or restriction has been imposed.
This is a positive development for Shree Cement shareholders — the court ruling removes a potential tax liability cloud over two earlier financial years. The outcome eliminates any additional tax demand risk from the re-assessment, providing clarity and relief to the company.