Goa Carbon Receives ₹1.20 Crore Tax Refund Order

Goa Carbon Limited has disclosed receipt of a Rectification Order dated 10.07.2026 from the Deputy Commissioner of Income Tax, Circle-1(1), Panaji, Goa under Section 154 of the Income-tax Act, 1961. The order was received by the Company on 27.08.2026 at 12:53 a.m. on its registered email ID.

The rectification pertains to Assessment Year 2010-11 and addresses the Company's grievance filed on 12.12.2025 regarding the Order Giving Effect dated 20.11.2025. The earlier order had granted a refund of ₹76,15,436 for AY 2010-11 but did not allow statutory interest payable under Section 244A of the Act.

Following the department's initial decline of the Company's request for statutory interest, the Company filed Writ Petition (L) No. 485 of 2026 before the Hon'ble Bombay High Court, Goa Bench.

The Rectification Order dated 10.07.2026, passed during the pendency of the writ petition, rectifies the Order dated 20.11.2025 to allow interest under Section 244A of the Act. Consequently, a further refund of ₹1,20,44,555 has been determined to be payable to the Company for Assessment Year 2010-11.

The Company is currently evaluating the legal propriety of the Rectification Order, including whether the interest granted has been correctly computed and whether any further/additional interest under Section 244A is payable. The Company is also evaluating the appropriate course of action regarding the pending Writ Petition (L) No. 485 of 2026 in light of this rectification order.

The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.