Fine Organic Industries Limited has announced the receipt of an income-tax assessment order for the 2016-17 assessment year. The order, issued by the Income Tax Department, resulted in a tax demand of Rs. 56,05,773/-. The company has confirmed that it has already filed an appeal against this order and maintains that there is no material impact on its ongoing operations or financial health.
Details of the Tax Order
Fine Organic Industries Limited received an assessment order under Section 271(1)(c) of the Income Tax Act, 1961, on March 10, 2026. The order pertains to the 2016-17 assessment year and demands a payment of Rs. 56,05,773/- from the company.
Company Response and Operational Impact
In response to the demand, the company has officially filed an appeal. Management has assured stakeholders that the current legal action does not pose a material risk to the company’s financial stability or day-to-day operations. The delay in disclosing this update was attributed to the company’s internal process of thoroughly reviewing the maintainability and legal significance of the notice received, which the firm stated was unintentional and inadvertent.
Source: BSE
