Disclosure of material issue

Remsons Industries (#REMSONSIND) faces a tax setback! 📉 Income Tax Appeals has dismissed their appeal, upholding a disallowance of ₹4.91 Cr in certain expenses for Assessment Year 2021-22. **Issue:** The Commissioner of Income Tax Appeals, NFAC, Delhi, has upheld the disallowance of ₹4.91 Cr in expenses previously appealed by the company. **Possible Impact:** The company states there is "no material impact on the Company's financials, operations or other activities." However, investors should note the confirmed disallowance amount. **Company’s Response:** Remsons Industries is evaluating the order and plans to appeal to the Income Tax Appellate Tribunal, Mumbai, within the stipulated timeframe. #TaxIssue #InvestorUpdate