Madras HC quashes ₹3567 lakh Income Tax demand for Refex Industries
Refex Industries Limited's tax demand of ₹3,567.22 lakh for AY 2016-17 has been quashed by the Hon'ble Madras High Court. The court set aside the assessment order, ruling it was passed without due process. The tax demand is now nullified.
The quashing of a large tax demand of ₹3,567.22 lakh directly impacts the company's financial standing and reduces potential liabilities.
The company received a favorable court ruling, nullifying a significant tax demand, which is a positive outcome.
Refex Industries Limited announced that the Hon'ble Madras High Court has set aside the assessment order dated May 31, 2023, issued by the Deputy Commissioner of Income Tax - Central Circle 3(4), Chennai. This order pertained to the Assessment Year 2016-17 and involved a tax demand of ₹3,567.22 lakh.
The company had filed a writ petition challenging the assessment order, arguing it was passed without providing a reasonable opportunity of being heard as mandated by Section 144A of the Income Tax Act, 1961, and that the required approval for issuing the notice was not obtained.
The Hon'ble Madras High Court, after reviewing the submissions, quashed the assessment order. The company received the High Court's order on April 28, 2026. Consequently, the tax demand of approximately ₹3,567.22 lakh has been nullified.
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Refex Industries Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Refex Industries Limited. Read the original for the full detail.