GeeCee Ventures Ltd
GeeCee Ventures Ltd - 532764 - Announcement Under Reg. 30 Of SEBI(LODR), 2018
01 / The disclosure
What the company shared
Update on litigation (Income tax related matter).
A question for your research
Check the authority, amount, company response and appeal status. A notice and a final liability are different stages.
Numbers found in document text 2 matches
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₹13.40 crorePage 1
The Assessing Officer, vide order dated May 30, 2023 passed under Section 147 of the Income- tax Act, 1961 (“Act”), had made an addition of ₹13.40 crore (₹13,39,79,699) to the income of the Company for Assessment Year 2017–18 by disallowing the exemption claimed on dividend income under Section 10(35) of the Act and adding it back under Section 68 of the Act.
View source page₹13,39,79,699Page 1
The Assessing Officer, vide order dated May 30, 2023 passed under Section 147 of the Income- tax Act, 1961 (“Act”), had made an addition of ₹13.40 crore (₹13,39,79,699) to the income of the Company for Assessment Year 2017–18 by disallowing the exemption claimed on dividend income under Section 10(35) of the Act and adding it back under Section 68 of the Act.
View source pageThe evidence
Read the source excerpts
01This is further to our earlier disclosure dated April 28, 2026, regarding the order passed by the Assessing Officer and the dismissal of the Company’s appeal by the Commissioner of Income Tax (Appeals) [“CIT(A)”] in respect of Assessment Year 2017–18 (Financial Year 2016–17).
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02The Assessing Officer, vide order dated May 30, 2023 passed under Section 147 of the Income- tax Act, 1961 (“Act”), had made an addition of ₹13.40 crore (₹13,39,79,699) to the income of the Company for Assessment Year 2017–18 by disallowing the exemption claimed on dividend income under Section 10(35) of the Act and adding it back under Section 68 of the Act.
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03The Company had filed an appeal against the said order before the CIT(A), which was dismissed vide order dated April 27, 2026.
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04On October 09, 2026, the Company received an order dated October 01, 2026, passed by the ITAT in ITA No.
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05The ITAT has held that the notice issued under Section 148 of the Act was invalid since the approval for issuing the same was not obtained from the specified authority prescribed under Section 151 of the Act, and has accordi ngly quashed the said notice and the consequential reassessment order dated May 30, 2023 as invalid and void ab initio.
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Source & verificationView the disclosure trail
- Summary method
- Exchange-provided text; no generated financial figures
- Exchange identifier
- a8efb658-f0a8-49cc-9132-c145f1a5c862
- First collected
- 9 Oct 2026, 21:04 IST
- PDF extraction
- extracted · 1 pages read
- Extraction note
- Source excerpts; financial tables have not been validated.
- Document SHA-256
- 5c7627e5c78bfe09e9244de9a04b141c9735078a83f6d4d0d2bf2f93dc63217c