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Tata Consumer Products Limited ( (IN:TATACONSUM) ) has shared an announcement.
Tata Consumer Products Limited has disclosed that it received an income-tax assessment order under Section 143(3) of the Income-tax Act, 1961, for the 2022-23 financial year, resulting in a demand of Rs 98.03 crore including interest. The assessment involves certain additions and disallowances to the company’s returned income, issued by the Assistant Commissioner of Income Tax, Circle 4(1), Kolkata.
The company has stated that it believes the tax demand is not maintainable and is in the process of filing an appeal against the order. It has also indicated that there is no immediate impact on its financials, operations or other activities arising from this tax assessment, signalling that it views the matter as a disputable liability rather than a current operational constraint.
More about Tata Consumer Products Limited
Tata Consumer Products Limited is a fast-moving consumer goods company focused on branded food and beverage products. As part of the Tata Group, it operates across India and international markets, with a portfolio spanning tea, coffee, packaged foods and other consumer staples aimed at both domestic and global consumers.
Average Trading Volume: 54,213
Technical Sentiment Signal: Hold
Current Market Cap: 1072.4B INR
For a thorough assessment of TATACONSUM stock, go to TipRanks’ Stock Analysis page.