Tax & Penalty29 May 2026, 01:48 pm
Vidya Wires: Subsidiary Receives ₹1.76 Cr Income Tax Demand
AI Summary
Vidya Wires Ltd's wholly-owned subsidiary, ALCU Industries Private Limited, received an assessment order from the Income Tax Department for the block period of 01.04.2018 to 31.03.2025, raising a demand of ₹1,75,77,666. The order, issued under Section 158B(c)(1) r.w.s. 143(3) of the Income Tax Act, 1961, pertains to certain additions and disallowances. Vidya Wires intends to file an appeal and does not anticipate a material impact on its financials or operations.
Key Highlights
- ALCU Industries, a Vidya Wires subsidiary, received an income tax assessment order.
- The Income Tax Department raised a demand of ₹1,75,77,666 for the period 2018-2025.
- The assessment order was issued under Section 158B(c)(1) r.w.s. 143(3) of the IT Act.
- Vidya Wires plans to appeal the order and expects no material financial impact.
Price Impact
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