Shree Cement Ltd Receives Draft Assessment Order from Income Tax Authority

Shree Cement Ltd has received a draft Assessment Order under section 144C (1) of the Income Tax Act, 1961 from the Income Tax Authority for the Financial Year 2022-23. The proposed additions and disallowances may result in a likely demand of approximately Rs. 149 Crs, excluding interest. However, the company believes that there is no major impact on its financial, operational, or other activities due to this draft Assessment Order, as the disallowances are not sustainable before the appellate authorities. The company plans to file objections against the draft assessment order.