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Tata Consumer gets tax demand of Rs 171.83 crore from Income Tax Department
Update / Judgement Date
29 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Income Tax
On June 29, Tata Consumer Products Ltd announced a ₹171.83 crore tax demand from the Income Tax department for the assessment year 2019-20. The company received an Assessment Order on June 27, 2024, proposing additions and disallowances to the returned income. \r
Tata Consumer Products plans to appeal and seek rectification, believing the demand is not maintainable. The company's stock closed at ₹1,098.00, up 1.14% on the BSE. For Q4 FY24, it reported a 26.69% decline in net profit to ₹212.26 crore, despite a rise in revenue to ₹3,926.94 crore.
