Panchmahal Steel Ltd — Important, 03-12-2025: Company Update

Panchmahal Steel announced it has received orders from the Income Tax Department, giving effect to a previous ruling. This action fully deletes an income tax demand of Rs. 12.20 crore related to assessment years 2010-11 and 2011-12. The demand stemmed from a dispute regarding the disallowance of purchases and associated tax elements. This resolution is a significant positive development for the company, eliminating a material financial liability and concluding a long-standing tax litigation.