Orient Cement Receives Income Tax Order for AY 2023-24, Plans Appeal
Orient Cement Limited received an Income Tax order for AY 2023-24 on March 31, 2026, with a demand of ₹52.40 crore. This is mainly due to a Transfer Pricing Adjustment of ₹54.33 crore. The company plans to appeal the order, expecting the demand to reduce to ₹3.19 crore after rectification.
The tax demand of ₹52.40 crore, even if reduced to ₹3.19 crore after rectification and appeal, represents a material financial obligation for the company. The need to contest the order and the potential financial outflow warrant a medium impact assessment.
The company has received an unfavorable order from the Income Tax Authority, resulting in a significant tax demand, which necessitates an appeal. This indicates a potentially negative financial impact.
Orient Cement Limited has received an order under section 143(3) read with section 144C(3) of the Income Tax Act, 1961, from the Income Tax Authority for the Assessment Year 2023-24. The company received this order on March 31, 2026.
The order pertains to a tax demand of ₹52,40,34,900, primarily due to a Transfer Pricing Adjustment of ₹54,33,14,302 related to the transfer of power from a captive unit to a manufacturing unit. The company believes the order is erroneous on several grounds.
Orient Cement intends to file an appeal against this order before the competent authority. Following rectification, the company expects the tax demand to be reduced to ₹3,19,81,466. The company is taking appropriate steps to file an appeal within the prescribed timelines.
What to do with a filing like this
Orient Cement Limited filed this with the NSE as a statutory disclosure, categorised under taxation. 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 Orient Cement Limited. Read the original for the full detail.