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Epigral Receives ₹52.52 Crore Income Tax Demand Notice for AY 2022-23
Epigral Limited has received an assessment order and demand notice of ₹52.52 crore from the Deputy Commissioner of Income Tax, Vadodara. The demand pertains to Assessment Year 2022-23 (Financial Year 2021-22) and includes applicable interest. The company intends to contest the order by filing a rectification application and an appeal, asserting that the demand is not maintainable. Management states there is currently no impact on the company's financial operations or activities.
Key Highlights
Income Tax demand notice received for ₹52.52 crore including interest
Pertains to Assessment Year 2022-23 under section 143(3) of the Income-tax Act
Company plans to file rectification application and appeal against the order
Management maintains that the demand is not maintainable and has no immediate financial impact
👀 What to Watch
Investors should monitor the outcome of the appeal process as the demand amount is significant, though the company is currently contesting the liability.
