Winro Commercial Plans ₹3.65 Cr Tax Appeal After Loss Disallowance

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AuthorKavya Nair|Published at:
Winro Commercial Plans ₹3.65 Cr Tax Appeal After Loss Disallowance
Overview

Winro Commercial (India) Ltd. has received a ₹3.65 crore tax demand from the Income Tax Department for Assessment Year 2022-23. The demand is due to the disallowance of a ₹10.71 crore brought-forward short-term capital loss. The company plans to fight the order legally, which could lead to legal costs and affect its cash flow if the appeal fails.

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Winro Commercial (India) Ltd. has received a tax demand of ₹3,64,97,710, or approximately ₹3.65 crore, from the Income Tax Department for Assessment Year 2022-23.

This demand stems from the tax authority's decision to disallow a brought-forward short-term capital loss of ₹10,71,68,937 (over ₹10.71 crore).

The company announced it intends to challenge this order through the appropriate legal channels.

Challenging the tax demand will likely result in legal and administrative expenses for Winro Commercial. Should the appeal prove unsuccessful, the company could face a significant payment obligation, which may impact its liquidity and overall financial health.

Winro Commercial primarily operates in the trading and investment of shares and securities. Businesses in this sector often encounter complex tax assessments concerning capital gains, losses, and trading activities.

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