Income Tax Authority To Delete Rs 49.53 Crore Demand After Appellate Order: JK Paper

JK Paper Ltd said on Saturday that an income tax demand of around Rs 50 crore raised against the company is expected to be deleted by the Commissioner of Income Tax (Appeals), Ahmedabad.

The company had challenged an earlier tax demand of Rs 49.53 crore, which included Rs 15.19 crore in interest, issued by the income tax authorities.

"The Commissioner of Income Tax (Appeals), Ahmedabad, vide his order dated March 27 2026, has deleted the additions made to the income of the Company by the Income Tax Officer in the assessment order," said the firm in filing.

The company had received the income tax demand on March 18, 2026. 

"In the said order, the income tax officer has made certain additions to the income of the company as declared in the return of income, resulting in an aggregate demand of Rs 4,559.60 lakh," it said.

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The firm had said that it would file the necessary appeal against the said order before the appropriate authorities. 

The company stated that it was of the view that the demand is fallacious, legally untenable and would be set aside in the course of proceedings.

The State Bank of India had also received a notable income tax demand of Rs 6,337.5 crore from the Income Tax Department, The demand had been raised for assessment year 2023-24. 

ALSO READ: SBI Receives Rs 6,337 Crore Tax Demand From Income Tax Department

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