Paradeep Phosphates: ₹20.57 Cr Income Tax Refund Granted

Paradeep Phosphates Ltd. announced that the Assistant Commissioner of Income Tax, Circle-1(1), Bhubaneswar, has quashed the income tax demand of ₹20.61 crore raised for AY 2020-21 and granted a refund of ₹20.57 crore to the company. This follows an appeal filed by the company before the First Appellate Authority on April 3, 2025, and a subsequent application u/s 154 before the Assistant Commissioner of Income Tax, Circle-1(1).