Legal10 Mar 2026, 08:02 pm
Ram Ratna Wires Ltd. Receives Assessment Order from Income Tax Department
AI Summary
Ram Ratna Wires Ltd. has received an Assessment Order from the Income Tax Department for the Assessment Years 2021-22 and 2022-23. The order, issued under Section 147 of the Income Tax Act, 1961, raises a demand notice of Rs 70.96 Cr, including interest of Rs 24.51 Cr. The company is evaluating the demand and intends to file appeals against the additions made to the assessed income.
Key Highlights
- Ram Ratna Wires Ltd. has received an Assessment Order from the Income Tax Department for the Assessment Years 2021-22 and 2022-23.
- The order raises a demand notice of Rs 70.96 Cr, including interest of Rs 24.51 Cr.
- The company is evaluating the demand and intends to file appeals against the additions made to the assessed income.
- The IT Department has issued the order after assessment proceedings and raised demand notices under various sections of the IT Act.
- The company does not currently foresee any material impact on its financials, operations, or other activities from the order.