HUL moves Bom HC challenging demand of ₹ 962.75 Crores, Legal News, ET LegalWorld
On September 13, Hindustan Unilever Limited filed a Writ Petition before the Bombay High Court, challenging the Assessment Order and the consequential Notice of Demand issued by the Income Tax Authorities, according to the exchange filing
The tax authorities has demanded of ₹ 962.75 Crores (including interest of ₹ 329.33 Crores) which was raised on the Company on account of non-deduction of TDS under Section 201 of Income-tax Act, 1961 while making remittance for payment towards acquisition of India HFD IPR from GlaxoSmithKline ‘GSK’ Group entities.
The Indian fast-moving consumer goods company does not expect any financial implications.
Published On Sep 14, 2024 at 03:08 PM IST
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