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| Exchange Disseminated Time 07/04/2016 15:54:12 | Agro Tech Foods Ltd has informed BSE that the Commissioner of Income Tax (Appeals), Hyderabad has allowed the Company's appeal of Rs.5.82 crores for balance interest on refund on account of self assessment Tax paid for the assessment year 1997-98.
The Income Tax Department has in the year 2008 granted a refund of the capital gains tax on slump sale of Mantralayam undertaking paid by the Company to the tune of Rs. 16.58 Crores including interest of Rs.4.01 crores, for the assessment year 1997-98. The current appeal was on account of short interest granted by the Department in 2008.
The receipt of the refund amount would be subject to appellate proceedings, if any. |
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