GOCL Corporation Limited receives IT demand for Rs. 45.72 crores

GOCL Corporation Limited has on 1st April 2022 received a notice of demand of Rs.45.72 crores from the Income Tax Department in connection with Joint Development Agreement in respect of the land situated at Kukatpally, Hyderabad. This pertains to assessment year 2013-14. The Department is considering the JDA as transfer of property.

The Company is of the view that the aforesaid Notice is not tenable in law. The necessary action(s) against the said Notice is/are being taken by the Company.

Shares of GOCL Corporation Limited was last trading in BSE at Rs. 281.35 as compared to the previous close of Rs. 273.45. The total number of shares traded during the day was 234 in over 16 trades.

The stock hit an intraday high of Rs. 282.70 and intraday low of 277.25. The net turnover during the day was Rs. 65195.00.

Source : Equity Bulls

Keywords

GOCLCorporation INE077F01035 ITDemand JDA HyderabadLand