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Arjas Steel Private Limited (ASPL), a material subsidiary of Sandur Manganese & Iron Ores, has received a demand notice from the Income Tax Department amounting to ₹62.62 crore due to what the company claims is an erroneous assessment of taxable income for the assessment year 2023-24. ASPL argues that the demand does not take into account unabsorbed depreciation, leading to an incorrect tax determination. The company plans to file a rectification application and appeal against the notice, indicating no expected material impact on operations or finances. This development may generate a neutral sentiment among investors while highlighting ASPL's commitment to addressing tax disputes.