Sobha Limited — Others, 01-04-2025: Action(s) taken or orders passed

SOBHA Limited has received an assessment order from the Income Tax Department for the Assessment Year 2023-24, resulting in a demand notice of ₹14.41 Crore related to disallowed expenses and income additions. The company suspects this demand may increase by an additional ₹7.06 Crore due to a clerical error. SOBHA intends to appeal the order, believing it has solid legal grounds. While this situation could potentially affect financial statements, management asserts there will be no impact on operations. This may lead to a cautious investor outlook as the appeal process unfolds.