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The latest announcement is out from Prataap Snacks Ltd. ( (IN:DIAMONDYD) ).
Prataap Snacks Ltd. has received an income tax assessment order for assessment year 2024–25, resulting in a total tax demand, including interest, of Rs 15.36 crore following certain additions and disallowances made during scrutiny proceedings. The company plans to appeal the order before higher appellate authorities, maintains that it has adequate factual and legal grounds to challenge the demand, and states that it expects the liability to reduce and does not foresee any impact on its financial operations or other activities, while noting that the disclosure delay was inadvertent.
The company has clarified that the tax demand stems from the Income Tax Department’s faceless assessment unit and that the notice was received on March 27, 2026. Management has indicated that, despite the size of the demand, normal business operations remain unaffected, aiming to reassure investors and stakeholders about continuity in financial and operational performance as it pursues legal remedies.
More about Prataap Snacks Ltd.
Prataap Snacks Ltd. is an Indian packaged foods company best known for its Yellow Diamond brand of snack products, operating in the fast-moving consumer goods sector with a primary focus on the domestic snacks market.
Average Trading Volume: 8,729
Technical Sentiment Signal: Hold
Current Market Cap: 22.95B INR
For detailed information about DIAMONDYD stock, go to TipRanks’ Stock Analysis page.