SRF Ltd Discloses Technical Error in Income Tax Assessment Resulting in Rs 327.44 Cr Demand

SRF Ltd has disclosed a technical error in the Income Tax Department's assessment order for Assessment Year 2022-23, leading to a demand of Rs 327.44 cr, which includes a tax addition of Rs 30.54 cr and interest of Rs 101.77 cr. The company maintains that the order is not legally sustainable and has filed a rectification application and an appeal before the Income Tax Appellate Tribunal (ITAT). The management believes that the entire demand will be reversed. There is no immediate impact on the company's financial, operational, or other activities.