Spirited Comeback: United Spirits Stands Tall After ₹1.95 Billion Tax Relief

Today, United Spirits Limited shared that it has achieved complete relief against the ₹1.95 billion tax demand from a recent favorable ruling. The Company was challenging the tax demand from prior assessments, and successfully made its case to the relevant authorities. This is a big win for United Spirits in its continuing legal conflicts over legacy tax issues. 

 

In addition to obtaining relief from the ₹1.95 billion demand, United Spirits stated that it intends to appeal any remaining tax demands arising from similar assessments. United Spirits affirmed its commitment to comply with all applicable laws, while protecting shareholder value. 

 

This will likely have a positive effect on the financial position and operational stability of United Spirits. The Company reassured that it will remain focused on its core business operations and growth strategies, while also managing the difficulties arising from historical tax disputes. 

 

The announcement is a relief for investors, who have been following and concerned over news from this case. United Spirits thanked the legal and financial teams for their support in reaching this favorable outcome.

 

Source: India Infoline