Styrenix Performance Materials Limited has disclosed receipt of an order confirming an income tax demand of INR 1.03 crore for Assessment Year 2016-17. The company states the matter will be appealed and does not expect a material impact on its financials or operations.
Styrenix Performance Materials Limited has informed investors about an order passed by the Commissioner of Income-tax (Appeals), NFAC, regarding its income tax liability for Assessment Year 2016-17. The order, received on December 24, 2025, confirms a demand of INR 1,02,99,743, including interest and penalty, originally raised by the Assessing Authority under Section 143(3) of the Income Tax Act, 1961, on December 08, 2018.
The company clarified that this order does not have any material impact on its financial position, operations, or other activities. Styrenix is currently evaluating the merits of the case and plans to exercise its right to file an appeal before the Income Tax Appellate Tribunal within the prescribed timelines.
Key Highlights:
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Commissioner of Income-tax (Appeals), NFAC, confirmed tax demand of INR 1.03 crore for AY 2016-17
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The demand includes interest and penalty, as per the Assessing Authority’s order dated December 08, 2018
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Order received by Styrenix on December 24, 2025
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Company states no material impact on financials or operations
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Styrenix is evaluating the merits and will appeal the order before the Income Tax Appellate Tribunal
Source: BSE Corporate Announcements