Paradeep Phosphates received a rectification order quashing an income tax demand of ₹20.61 crore for AY 2020-21.
The Assistant Commissioner of Income Tax, Bhubaneswar, granted the company a refund of ₹20.57 crore.
The demand was originally raised on February 28, 2025, and the company had filed an appeal on April 3, 2025.
This is a regulatory disclosure under SEBI LODR Regulation 30 regarding material litigation.