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BSE SENSEX
80,436.84
+1,330.96
+1.68 %
Corporate Announcement
Security Code
543596
Company
Tamilnad Mercantile Bank Ltd
Exchange Received Time
13/08/2024 13:45:23
Exchange Disseminated Time
13/08/2024 13:45:23
Time Taken
00:00:00
Tamilnad Mercantile Bank Limited Has Informed The Exchange Regarding ''Update On Demand Notice Issued By The Income Tax Department'' |
8/13/2024 1:45:23 PM
We draw attention of our earlier intimation given in reference with regard to the demand notice of Rs.110.04 crores issued by the Assessment Unit of Income Tax Department. Pursuant to the order dated 26.04.2024 of Madurai Bench of Hon'ble Madras High Court, the Assessment Unit of Income tax Department provided another opportunity for submitting our clarification with regard to the subject demand. The Bank submitted the clarification vide reply letters dated 08.07.2024, 17.07.2024, 07.08.2024 and personal hearing through video conference dated 08.08.2024. The Assessment Unit of Income Tax Department accepted the clarification and issued 'NIL' Demand Notice on 12.08.2024 under Section 156 of Income Tax Act, 1961.
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