Key Quantitative Figures
- Previous income tax demand and interest: ₹8.63 crore
- Revised tax liability after rectification: Nil (₹0)
- Amount subject to ongoing appeal (transfer pricing adjustment): ₹2.78 crore
Dates of Action
- Date of Rectification Order: June 16, 2026
- Assessment Year: 2023-24
- Date of disclosure filing: June 16, 2026
Parties Involved
- United Foodbrands Limited (formerly Barbeque-Nation Hospitality Limited)
- Regulatory Authority: Deputy Commissioner of Income Tax, Bengaluru
- Company representative: Nagamani C Y, Company Secretary & Compliance Officer (M. No: A27475)
Financial Impact
- The Rectification Order has completely eliminated the company's tax liability of ₹8.63 crore for Assessment Year 2023-24.
- No financial implications remain from the original demand notice.
- No penalties or restrictions were imposed by the authority.
Ongoing Actions
The company is in the process of filing an appeal against a separate addition to income amounting to ₹2.78 crore made by the Assessing Officer. This addition relates to a transfer pricing adjustment under Section 92CA(3) of the Income Tax Act, 1961.
Additional Information
- The disclosure was made to both BSE Limited (Scrip Code: 543283) and National Stock Exchange of India Limited (Scrip Symbol: UFBL).
- The information will be available on the company's website at www.unitedfoodbrands.in under the Investors section.
- The disclosure includes Form A as required by SEBI LODR Regulations, providing complete details of the communication received.