Tax & Penalty16 Jun 2026, 06:40 pm
United Foodbrands: Income Tax Demand of ₹8.63 Cr Reduced to Nil
AI Summary
United Foodbrands Limited announced that the Deputy Commissioner of Income Tax, Bengaluru, has issued a Rectification Order on June 16, 2026. This order revises a previous Assessment Order and Notice of Demand for Assessment Year 2023-24. Consequently, the previously demanded income tax and interest amounting to ₹8.63 crores have been reduced to nil. The company is no longer liable to pay this amount. The company is also pursuing an appeal against a ₹2.78 crore addition to income related to transfer pricing adjustments.
Key Highlights
- Income tax demand of ₹8.63 crores reduced to nil by rectification order.
- Company is not liable to pay the previously demanded tax and interest.
- Rectification Order issued by Deputy Commissioner of Income Tax, Bengaluru.
- Company is appealing a ₹2.78 crore addition related to transfer pricing.
- No financial implications expected from the rectification order.
Price Impact
More from BARBEQUE