Bata India discloses income tax assessment order receipt

Bata India Limited (BSE: 500043) has informed the stock exchanges, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received an assessment order from the Income Tax Department. This order, according to the company, includes a notice of demand under Section 156 of the Income-Tax Act, 1961 and initiates penalty proceedings under Section 270A for under-reporting of income relating to the A.Y. 2022-23. While Bata India anticipates contesting the matter with appropriate authorities, it believes that the potential financial impact will not be material. The announcement includes attachments (Annexure A and B) with further details and has been uploaded to the company website.