FMCG firm Tata Consumer Products Ltd on 29 June said it has received a tax demand of Rs 171.83 crore from the Income Tax department for the assessment year 2019-20, firm said in a stock exchange filing.
In a regulatory filing it said,” The Company has received an Assessment Order dated June 27, 2024, under section 143(3) read with section 144C(13) of Income-tax Act, 1961, for the income tax return filed for the financial year 2019-20, wherein certain additions/ disallowances with respect to returned income, have been proposed by the assessing officer. The demand raised is Rs.171.83 crore (including interest).
“The company believes that the aforementioned demand is not maintainable and it is in the process of preferring an appeal and rectification against the said order,” the company further said in the statement.
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