Goa Carbon Ltd has been granted an income tax refund of ₹23.2 million by the Income Tax Department, providing a boost to its cash reserves. The refund follows lengthy assessments by tax authorities and marks a positive outcome for the company’s financial health and future obligations.
Goa Carbon Ltd , a leading manufacturer in the carbon and coke industry, announced it has received an official income tax refund order for ₹23.2 million from the Income Tax Department. This favorable development follows a series of assessments and legal proceedings concerning loan classification and interest expenses.
The refund is expected to support the company’s liquidity and operational flexibility, especially after recent disputes centered on unsecured promoter loans and income tax adjustments. Though the company previously faced substantial tax demand notices and reviews by tax authorities, recent judicial decisions and reassessments have led to waivers, interest reductions, and now a sizeable cash return to the company.
Investors and market analysts view the refund as an affirmation of Goa Carbon’s compliance strategy and financial recovery efforts. Previous efforts to restore operations at the company’s Goa Unit and settle legacy tax matters reinforce its stable outlook heading into upcoming fiscal periods.
Key Highlights
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Income Tax Department grants Goa Carbon Ltd ₹23.2 million refund
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Refund follows reassessment and favorable outcomes after disputes over loans and interest expenses
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Bolsters cash reserves and operational liquidity
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Previous tax demands and legal proceedings resolved with waivers and refunds
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Positive impact on investor sentiment and financial stability
Source: AoI Ventures, Zerodha share price update, company disclosures.