JM Financial Limited has announced that it will receive a tax refund of Rs 230 crore, including interest, following an order from the Deputy Commissioner of Income Tax, Government of India. The order, issued under Section 254 read with Section 143(3) of the Income-tax Act, 1961, pertains to the assessment year 2008-09 and was received by the company on February 19, 2025.
According to the company’s disclosure, the refund is expected to have a positive financial impact, though no violations or contraventions were cited in the order.
JM Financial has confirmed that it has taken note of the order and has informed the stock exchanges as per regulatory requirements. The company’s stock performance and investor sentiment are likely to reflect this significant financial gain in the coming sessions.
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