V-Mart Retail Receives Income Tax Demand Notice: Key Details and Implications
V-Mart Retail has received a demand notice of more than Rs 35 lakh. V Mart shares closed flattish on Friday. Shares of V Mart retail is trading at ₹2884 per equity share and market cap of this retail chain company is around ₹5700 crore.
V-Mart Retail Limited, a leading retail chain in India, has received a demand notice from the National Faceless Assessment Centre under Section 156 of the Income Tax Act, 1961. The company disclosed this development in a regulatory filing to the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details of the Demand Notice
The communication pertains to an ongoing assessment for the financial year 2011-12 (Assessment Year 2012-13). The primary issue raised is a deviation in income reporting, which has resulted in a penalty order.
Key Details of the Notice:
- Date of Receipt: March 21, 2025
- Issuing Authority: National Faceless Assessment Centre
- Nature of the Issue: Deviation in income reporting for Assessment Year 2012-13
- Penalty Amount: ₹35,76,558
- Financial Impact on V-Mart: The company has stated that apart from the penalty amount, there is no material impact on its financials or operations.
- Company’s Response: V-Mart Retail Limited plans to appeal the order before the Commissioner of Income Tax (Appeals).
Check More Details About This Notice Click Here
Potential Implications
While the penalty does not significantly impact the company’s overall financial health, regulatory scrutiny and tax-related disputes can affect investor sentiment. The company’s decision to appeal suggests confidence in its financial reporting and a potential reversal of the penalty.
Summary
V-Mart Retail has taken a proactive approach by informing stakeholders about the tax demand notice and its plan to contest the order. Investors will now closely monitor the progress of the appeal and any future developments regarding this case.
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