UltraTech Cement discloses an income tax assessment order for AY 2023-24 with a total demand of ₹808.78 crores.
The demand includes additions for tax holiday claims, TP adjustments, and ESOP expenses disallowed by the assessing officer.
The company states it has strong legal grounds to appeal and does not expect any financial or operational impact.
An appeal will be filed with the Commissioner of Income Tax (Appeals) within the prescribed timelines.