Dodla Dairy Subsidiary Receives ₹18.11 Crore Tax Order; Company to Appeal
Dodla Dairy's subsidiary, HR Food Processing, received an Income Tax assessment order with additions/disallowances of ₹18.11 crore for AY 2024-25. The company disagrees with the order and plans to appeal before the Commissioner of Income Tax (Appeals).
A tax demand of ₹18.11 crore, even if disputed, represents a significant amount that could impact financials if not resolved favorably. The company's belief in its case and planned appeal, however, moderates the immediate impact.
The company disagrees with the tax order and is appealing, indicating a potentially unresolved issue, but management believes the demand is not sustainable, which mitigates immediate negative impact.
Dodla Dairy Limited announced that its wholly owned subsidiary, HR Food Processing Private Limited, has received an order under Section 143(3) of the Income-tax Act, 1961, for Assessment Year 2024-25 from the Assessment Unit, Income Tax Department.
The order involves certain additions/disallowances to the returned income filed by the subsidiary, amounting to ₹18.11 crore. Dodla Dairy Limited stated that the company disagrees with the order, believing the adjustments were made without adequately considering the merits of the case and are not in accordance with the Act.
The company is in the process of filing an appeal before the Learned Commissioner of Income Tax (Appeals). Management believes the demand is not sustainable and is proceeding with the appeal.
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Dodla Dairy Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Dodla Dairy Limited. Read the original for the full detail.