Tax Dept Quashes ₹2.10 Billion Demand On Aditya Birla Capital Arm

Aditya Birla Capital Ltd. on Thursday said the Income Tax Department has scrapped a ₹2.10 billion tax demand raised on its subsidiary Aditya Birla Sun Life Insurance Co. Ltd. for the 2016–17 assessment year.

The relief came after the insurance arm appealed against the earlier tax order, the company said in an exchange filing.

Separately, the department has issued a stay on another demand of ₹1.84 billion for the 2022–23 assessment year. The stay is conditional on an adjustment of ₹152.4 million from the subsidiary’s refund for 2024–25.