Shree Cement Limited has received a draft assessment order from the Income Tax Authority, potentially leading to a tax demand of approximately ₹149 crore. The draft order, received on 31st March 2026, pertains to the financial year 2022-23 and was issued by the Assistant Commissioner of Income Tax, Central Circle, Ajmer.
The draft assessment order under section 144C (1) of the Income Tax Act, 1961, proposes disallowances and additions to the income returned by Shree Cement in its tax filings. The potential demand of ₹149 crore, which excludes any interest, may arise upon the issuance of a final order. This amount is expected to be adjusted against pending refunds due to the company.
Despite the proposed adjustments, Shree Cement, in consultation with its legal counsel, believes that the disallowances are not sustainable before the appellate authorities. The company anticipates no major impact on its financial, operational, or other activities as a result of this draft assessment order.
In response to the draft assessment order, Shree Cement plans to file objections. The company is considering its options, which include filing objections with the Dispute Resolution Panel or appealing before the Commissioner Appeals.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).