Tax & Penalty21 Oct 2026, 02:17 pm
Goa Carbon Ltd Receives Further Rectification Order from IT Dept
AI Summary
Goa Carbon Limited has received a further Rectification Order dated 08.10.2026 from the Deputy Commissioner of Income Tax concerning Assessment Year 2010-11. This order rectifies a previous rectification order (dated 10.07.2026) which itself rectified an earlier order (dated 20.11.2025). The latest order grants an additional refund of ₹22,22,305/- to the company, following earlier refunds related to statutory interest under Section 244A of the Income-tax Act. The company is currently evaluating its ongoing Writ Petition before the Bombay High Court, Goa Bench, in light of these developments.
Key Highlights
- Goa Carbon received a further IT rectification order for AY 2010-11.
- Additional refund of ₹22,22,305/- granted by the IT Department.
- Order relates to statutory interest under Section 244A of the Income-tax Act.
- Company is reassessing its legal action before the Bombay High Court.
Price Impact
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