Company Update

Prism Finance has filed appeals before the Income Tax Appellate Tribunal in Ahmedabad against orders upholding tax additions and tax demands of 0.77 Cr and 3.09 Cr for assessment years 2016-17 and 2018-19. The company has challenged tax demands amounting to 0.53 Cr for the first period and 4.62 Cr for the second period.

Based on the merits of the matter, the management does not foresee any significant financial implications at this stage and will keep the exchange updated on further developments.