Electrotherm India Receives ₹3.96 Cr Tax Demand

Electrotherm (India) Ltd received an Assessment Order under Section 147 and Demand Notice under Section 156 of the Income Tax Act, 1961 for AY 2019-20.
Total tax demand raised is ₹3,95,69,330, comprising net tax liability of ₹1,77,74,570 and interest liability of ₹2,17,94,760.
Management is confident of no financial or operational impact and plans to file an appeal against the order with the Income Tax Department.