GTL Limited — Important, 09-04-2025: Updates

GTL Limited has received a communication from the Office of the Deputy Commissioner of Income Tax concerning the Assessment Year 2017-18. Initially, the Income Tax Department raised a demand of ₹59.38 crore due to certain additions and disallowances made to the company's returned income. However, upon reviewing the rectification application filed by GTL, the Department found the company's arguments valid. Consequently, the demand has been revised to ₹NIL. The company anticipates no material impact on its financial or operational activities as a result of this issue. Overall, this development clears a significant hurdle for GTL and signals a positive outlook moving forward.