Laxmi Dental Limited, formerly known as Laxmi Dental Export Private Limited, has received a show cause notice from the Income Tax Department (ITD). The notice pertains to an alleged variation in income of ₹93,77,916 as reported in Form 26AS for the assessment year 2019-20. The discrepancy was identified concerning the merged entity, Illusion Dental Laboratory Private Limited.
The ITD has provided a timeline of five days for Laxmi Dental Limited to respond to the notice. The company has confirmed that it will provide a reply within the stipulated time along with the necessary supporting documents.
The notice currently does not impose any penalties or financial fines, nor does it impact the company’s financial, operational, or other activities. However, the ITD has stated that if no response is submitted, the assessment will be finalized considering the stated income variation.
Laxmi Dental Limited has informed the exchanges of the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has made the relevant details available on its website.
