GRASIM : BOMBAY HC QUASHES RS 329 CR REASSESSMENT NOTICE

• Bombay High Court vide order dated 22 October 2026 quashed the Income Tax Department's notice u/s 148 and consequential reassessment proceedings • Notice dated 30 June 2026 alleged ₹329 Cr income from Grasim's participation in the Vodafone Idea rights issue in FY2019-20 had escaped assessment • Company says ₹329 Cr is alleged escaped income, not a tax claim or demand; the NDTV Profit article is factually incorrect on this count • Potential tax exposure at ₹114 Cr (34.944% maximum marginal rate on that alleged income) is below the company's materiality threshold for FY2026-27 • Company confirms there is no financial or operational impact of the matter on it

Grasim Industries Limited

Open attachment

← Back to feed