Announced Mon, 27 Jul · 18:11 IST
SRF gets Income Tax rectification order reducing demand to Rs 9.46 cr
Regulatory & Legal View source PDF
SRF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Income Tax Department's rectification order has reduced the original demand of Rs 327.44 crores (raised due to a technical error for Assessment Year 2022-23) to just Rs 9.46 crores. The order confirms the company's position that the original demand arose from a technical error. SRF is analysing the order to take suitable legal recourse on the remaining amount.
Likely market impact
Major relief for SRF as about 97 percent of the disputed tax demand stands reduced. Company may pursue further legal action on the remaining Rs 9.46 cr.