R R Kabel Ltd Receives Re-assessment Orders from Income Tax Department for AY 2015-16 and 2016-17

R R Kabel Ltd has received Re-assessment Orders from the Office of the Deputy Commissioner of Income Tax in connection with the Assessment Years 2015-16 and 2016-17. The IT Department has raised income-tax demand under Section 143(3) read with Section 147 of the IT Act on account of certain additions and disallowance of certain expenditures under various sections of the IT Act. The total income-tax demand, including interest, for the AY 2015-16 and AY 2016-17 amounts to ₹ 5.44 Crores. The Company intends to file an appeal against the aforesaid Orders and does not expect any material impact on its financials, operations or other activities due to the said Orders.