Legal Victory for Triton Valves: ₹93.2 Million Tax Cloud Clears, Shares Set to Accelerate

In a major legal triumph, Triton Valves Ltd today confirmed that a court has quashed the ₹93.2 million tax notice ordered by the Income Tax Department against the company earlier. The assessment year 2022-23 notice was challenged as the Section 143(3) of the Income Tax Act, 1961 notice was issued to the company.

 

With the ruling by the court, Triton Valves Ltd is exempted from the payment of the disputed amount. The outcome is hoped to positively affect the company's financial position and brings relief that is badly needed to its operations. The management also embraced the ruling and affirmed its commitment towards compliance with legislative requirements.

 

Source: Moneycontrol