Electrotherm (India) Ltd. Receives Assessment Order and Demand Notice from Income Tax Department

Electrotherm (India) Ltd. has received an Assessment Order under Section 147 and a Demand Notice under Section 156 of the Income Tax Act, 1961, from the Office of the Deputy Commissioner of Income Tax, Ahmedabad. The order is for the assessment year 2019-20, and the total demand includes a net tax liability of Rs. 1,77,74,570/- and an interest liability of Rs. 2,17,94,760/-. The company will seek legal advice to file an appeal with the Income Tax Department against this order. According to the company's own assessment and legal advice, there is no impact on the financials, operations, or other activities of the company at this stage.