Grasim Clarifies Bombay HC Quashes ₹329 Cr Tax Reassessment

Grasim Industries has clarified a news item regarding a ₹329 Crore tax claim. The Bombay High Court quashed a reassessment notice issued by the Income Tax Department, which had alleged that income/benefit of ₹329 Crores arose from Grasim's participation in Vodafone Idea's rights issue during FY 2019-20. Grasim had challenged the reassessment proceedings. The company clarified that the ₹329 crore figure represented alleged escaped income, not a tax demand. The potential tax exposure of ₹114 crores, if computed, would be below the materiality threshold for disclosure. Grasim stated there was no financial or operational impact and no undisclosed material information.