Grasim gets Rs 5,872 cr tax demand on its mega merger
The company said, DCIT had issued a show cause notice on February 11, 2019, subsequently revised on March 1, 2019, as to why the provisions of section 115-0 read with section 115-Q of the Income Tax Act, 1961 should not be applied on the allotment of equity shares by ABCL to the shareholders Grasim Industries, pursuant to the mega merger between the three entities.
Aditya Birla Group firm Grasim Industries said it has received Rs 5,872.13 crore tax demand from the IT dept, Photo: Reuters