Shree Cement Receives Final Income Tax Order, Rs. 153.47 Crore Demand Expected
Shree Cement received a Final Assessment Order for FY 2022-23 on May 15, 2026. A demand of ₹153.47 Crore (including interest) has been determined. The company expects this demand to be adjusted against pending refunds and anticipates no material financial impact.
While the company anticipates no significant financial impact, a tax demand of over ₹150 crore is a material event that could potentially affect liquidity or require legal recourse.
The company received a tax demand, which is a negative event. However, the company expects the demand to be adjusted against refunds and anticipates no material financial impact, mitigating the negativity.
Shree Cement Limited has received the Final Assessment Order under Section 143(3) of the Income Tax Act, 1961, pertaining to the Financial Year 2022-23. The order was received on 15th May 2026 from the Assistant Commissioner of Income Tax, Central Circle, Ajmer.
This follows a draft assessment order previously intimated on 1st April 2026. The final order determines a demand of ₹153.47 Crores, which includes interest, arising from disallowances made during the assessment. However, this demand is expected to be adjusted against pending refunds that the company is due to receive.
The company is currently undertaking remedial actions as advised by legal counsel to protect its interests. Based on previous orders from authorities and appellate forums for preceding years, Shree Cement anticipates that the entire demand will eventually subside. Consequently, the company expects no significant impact on its financial performance, operations, or other business activities.
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