Ramco Cements updates on litigation, non-core asset disposal

** The Ramco Cements has released a series of announcements detailing updates on its legal matters and asset disposal strategy. The company stated that it has received a Rectification Order u/s 154 of the Income Tax Act, 1961, and will not have any tax liability, and the company requested that authorities take note of it. The company has also secured favorable rulings in ongoing disputes, where the Madras High Court dismissed the department's appeal for assessment years 1994-95 and 2003-04, as the tax effect was below the threshold of INR 2 crores per Circular No.9 of 2024. Also, a disputed tax value of INR 2.97 crores was dismissed as not maintainable. However, disputes of INR 19.71 crores are pending with statutory authorities. Furthermore, the company announced that the CESTAT remand order, regarding CENVAT credit disallowance, has resulted in resolving the issue up to INR 0.84 crores.