Shree Cement Limited has received a significant tax demand of ₹153.47 crore, including interest, from the Income Tax Authority for the financial year 2022-23. The assessment order, issued on 15th May 2026, was passed under section 143(3) read with section 144C(3) of the Income Tax Act, 1961.
The demand arises due to disallowances made by the tax authorities, and the company has indicated that this will be adjusted against pending refunds. The assessment order was received from the Assistant Commissioner of Income Tax, Central Circle, Ajmer.
Shree Cement is currently exploring remedial actions as advised by its legal counsels to protect its interests. The company remains optimistic that the demand will be nullified, referencing orders from authorities and appellate forums for preceding years. Consequently, Shree Cement anticipates no impact on its financial, operational, or other activities.
The company had previously disclosed the draft assessment order under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, dated 1st April 2026. The final assessment order follows these earlier communications.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).