ICICI Lombard receives favorable order in tax litigation, quashing ₹7.7 crores demand

In a recent development, ICICI Lombard General Insurance Company Limited announced that it has received favorable orders from the Special Commissioner, Appellate Authority-III, State Tax, Jaipur, dated October 12, 2023.

 

 The orders effectively quash a demand of ₹7.7 crores, which includes interest and penalties, pertaining to the financial years 2017-18, 2018-19, and 2019-20.

 

The company had earlier disclosed details of ongoing tax litigations in an intimation dated August 14, 2023. The favorable outcome marks a significant development in resolving these litigations.

 

This positive development is expected to have a favorable impact on the company's financial standing and operations.

Top stories
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read . 02 Aug 2024 . 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read . 02 Aug 2024 . 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read . 02 Aug 2024 . 12:36 PM

Related Blogs
blog-logo

Candlestick Patterns

blog-logo

11 mins read . 03 Oct 2024

Ascending Triangle Pattern - Definition, Tips, Component & How to Trade

  • 0 people read
blog-logo

IPO

blog-logo

5 mins read . 19 Sep 2024

Vision Infra Equipment Solutions Limited IPO

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions