February 5, 2024Anmol Nagpal

I-T dept issues final notice to Shree Cement after tax liability probe

The Income Tax Department has reportedly issued a final notice to Shree Cement post-completion of the probe for tax liability of Rs 4,000 crore.

Source: Shree Cement

The Income Tax Department has claimed a demand of Rs 4,000 crore against cement manufacturer Shree Cement for tax evasion.

Source: Shree Cement

The tax demand of Rs 4,000 crore includes tax due, interest, and penalty against the company for wrongful claims and deductions, as per media reports.

Source: ANI

The tax officials filed a report after a survey action where they found that Shree Cement had claimed Rs 7,000 crore in wrongful deduction for solid waste management.

Source: Pexels

However, during the survey, the I-T department could not find any such utility at any of the company premises.

Source: Pexels