MSTC Ltd Receives Tax Demand of Rs. 178 crore for AY 2024-25:

MSTC Ltd Receives Tax Demand of Rs. 178 crore for AY 2024-25 The Metal Scrap Trade Corporation (MSTC) Limited has received a tax demand asking for Rs. 178.40 crore. As per the regulatory filing, the notice has been issued under Section 156 of the Income Tax Act, 1961, by the Income Tax Department. The demand has been raised for the assessment year 2024-25, for an amount of Rs. 178.40 crores. Out of this, Rs. 27.85 crores is the interest under Section 201(1)/201(1A) of the Income Tax Act, 1961. The company has decided to challenge the order by filing an appeal. MSTC, in their regulatory filing, stated that the tax demand is appealable and the company will appeal against the demand before the appropriate authority.