Nuvoco Vistas Corporation Ltd Receives Assessment Order for FY 2022-23 with Proposed Demand of INR 11.89 Crores

Nuvoco Vistas Corporation Ltd has received an assessment order from the Faceless Assessing Officer, Assessment Unit, Income Tax, Mumbai for the Financial Year 2022-2023. The order proposes a demand of INR 11.89 crores due to certain disallowances. These disallowances are in line with previous years' orders, and the management is reviewing the order to take appropriate action. The company is confident of getting this order set aside at a higher adjudicating forum, relying on precedents and various court decisions.