JK Paper Limited has successfully secured relief concerning a significant tax matter. The Commissioner of Income Tax (Appeals), Ahmedabad, issued an order on March 27, 2026, deleting the previously raised aggregate demand of ₹49.53 crore (including interest of ₹15.19 crore) related to the Assessment Year 2022-23. This successful appeal follows an earlier disclosure made in May 2025 regarding the initial assessment order, with the company confirming no material adverse impact on financials.
Favorable Appellate Order Received
JK Paper Limited has informed the exchanges regarding the receipt of an Appellate Order from the Commissioner of Income Tax (Appeals), Ahmedabad, on March 27, 2026. This filing is a continuation of previous disclosures concerning the income assessment for the Financial Year 2021-22 (Assessment Year 2022-23).
Deletion of Tax Demand
The key outcome of the appellate order is the deletion of additions made by the Income Tax Officer in the original assessment order. Consequently, the aggregate demand previously raised on the Company, amounting to ₹49.53 crore (which included ₹15.19 crore in interest), will now be deleted by the Income Tax Officer.
Financial Impact and Compliance Status
- Financial Implication: Consequent to the Order, the demand of ₹49.53 crore (including interest of Rs. 15.19 crore) will be deleted.
- Penalty/Sanction: Nil penalty or restriction was imposed as a result of this communication.
- Company Position: The Company maintains that its tax positions adhere to all applicable laws and does not anticipate any material adverse impact on its financials, operations, or other activities resulting from this order.
The filing confirms that no further action is required by the Company with respect to this specific communication.
Source: BSE
