Shree Cement Limited has received a final assessment order from the Assistant Commissioner of Income Tax, Central Circle, Ajmer, demanding ₹153.47 crore, including interest, for the financial year 2022-23. The order, dated 15th May 2026, was issued under section 143(3) read with section 144C(3) of the Income Tax Act, 1961.
The assessment order follows a draft assessment order previously communicated on 1st April 2026, as per the company’s disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The tax demand results from disallowances made by the tax authority, which will be adjusted against pending refunds owed to the company.
Shree Cement has stated that it is in the process of taking remedial actions as advised by legal counsel to protect its interests. The company anticipates that the entire demand will eventually subside, referencing similar orders and appellate forum decisions from previous years. Consequently, Shree Cement does not expect any significant impact on its financial, operational, or other activities.
No aberrations, non-compliances, penalties, restrictions, or sanctions were identified or imposed in the communication from the tax authority. Shree Cement has not disclosed any additional relevant information regarding the matter.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).