The Ramco Cements Limited has informed the Exchange regarding 'OUTCOME ON LITIGATION / DISPUTES.'.
RAMCOCEM · price
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The Ramco Cements informed the exchange about the outcome of previously disclosed material litigations related to the Income Tax Department treating certain revenue expenditure as capital expenditure. For Assessment Year 1994-95, the tax department's appeal before the Madras High Court for a disputed tax value of Rs. 0.32 crores was dismissed as the amount was below the Rs. 2 crore threshold under CBDT Circular No. 9 of 2024. For Assessment Year 2003-04, a similar appeal for Rs. 0.05 crores was also dismissed on the same grounds. An additional disputed amount of Rs. 2.97 crores for AY 2003-04 was dismissed as 'not maintainable' by the High Court. The company also noted that similar disputes worth Rs. 19.71 crores remain pending before various statutory authorities.
These are favorable outcomes for Ramco Cements as the Income Tax Department's appeals have been dismissed, removing a portion of tax uncertainty. The financial impact is minimal given the small disputed amounts (under Rs. 3.5 crores total), but the remaining Rs. 19.71 crores of pending disputes still warrant monitoring. No material change in financial position is expected from this update.