The Ramco Cements Limited has informed the Exchange regarding 'UPDAT ON ONGOINGLITIGATIONS'.
RAMCOCEM · price
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The Ramco Cements has informed the stock exchanges that the Income Tax Appellate Tribunal (ITAT) has dismissed an appeal filed by the Income Tax Department against the company. The dispute related to a penalty of Rs. 11.60 crores for Assessment Year 2016-17, where the department had alleged that certain revenue expenditure was wrongly treated as capital expenditure. The ITAT ruled in favor of the company on 10th June 2025. The company also noted that similar disputes worth Rs. 0.28 crores remain pending before the Honourable High Court.
This is a positive development for shareholders, as the company has avoided a potential Rs. 11.60 crore tax penalty. The favorable ITAT ruling removes a material litigation overhang, though a small Rs. 0.28 crore matter is still pending before the High Court.