Kokuyo Camlin Faces ₹1,62,96,90,500 Income Tax Demand from DS Income Tax Authority

Kokuyo Camlin Ltd. has received an assessment order from the DS Income Tax, assessment unit, Income Tax Department, National faceless unit, India, pertaining to a demand of income tax along with interest and penalty. The order, received on March 21, 2025, alleges discrepancies in balances of certain trade creditors, treating them as unexplained liabilities and making additions to income under Section 115BBE of the Income Tax Act, 1961. The order also involves the re-computation of book profits under Section 115JB (MAT). The Company believes the order is erroneous and plans to file an application for rectification under the applicable provisions of the Income Tax Act, 1961. If the issues are not satisfactorily resolved, the Company will pursue appropriate legal remedies. The Company does not expect any material impact on its financial position at this stage.