Nuvoco Vistas Corporation Ltd. has disclosed the receipt of an Assessment Order for the Financial Year 2022-23 from the Faceless Assessing Officer. The order results in a proposed tax demand of Rs. 11.89 crores due to certain disallowances. Management notes these disallowances align with previous years’ positions and is confident of defending the case at the appellate forum based on existing precedents.
Disclosure of Tax Assessment Order
Nuvoco Vistas Corporation Limited has formally announced the receipt of an Assessment Order concerning the Financial Year 2022-23. The order was issued by the Faceless Assessing Officer, Assessment Unit, Income Tax Department, and was received by the Company on March 13, 2026.
Details of the Proposed Demand
The primary impact of this assessment is the imposition of certain disallowances, which have resulted in a proposed demand amounting to Rs. 11.89 crores. This matter is currently being pursued before the Commissioner of Income Tax (Appeals), Mumbai, which serves as the initial appellate authority.
Management Response and Outlook
The management has stated that the nature of these disallowances is consistent with orders received in previous financial years. The Company is currently engaged in a detailed review of the order to determine the exact steps for appropriate action. Furthermore, Nuvoco Vistas expressed strong confidence in its position, noting it will rely on precedents & various court decisions to defend its stance and seek to have this order set aside at a higher adjudicating forum.
This information has also been made available on the Company’s official website, www.nuvoco.com.
Source: BSE
