CG Power and Industrial Solutions on Monday said that the Bombay High Court has quashed an assessment order of Rs 684.08 crore against the company issued by the I-T department.
The court quashed the tax demand notice during a hearing on Monday, a regulatory filing by the company stated.
“Further to our captioned letter regarding a demand of Rs 684.08 crore received from the Income-Tax Department based on an Assessment Order dated 18th February 2022 in respect of the Assessment Year 2018-19, we wish to inform you that the Bombay High Court, at the hearing held today i.e. 21st February 2022, has quashed the said Assessment Order and the demand made based on the said Assessment Order,” the filing said.
