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| Exchange Disseminated Time 10/05/2016 17:02:00 | Golden Tobacco Ltd has informed BSE that in relation to the various contingent income tax demands which are being contested by the Company and are part of the disclosure as per last Audited Accounts, penalty proceedings under various sections pending with the Commissioner of Income Tax (Appeals), have been confirmed in respect of Assessment Year 1984-85 to 1986-87, total amount Rs. 80,71,53,930/-.
However, the Company is already contesting the original demands at various levels. The Company is likely to succeed, consequently these demand will automatically quashed. The Company will further challenge these orders also before ITAT. |
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