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With reference to the intimation submitted by Refex Industries Limited titled “Order of Hon’ble Madras High Court.

The company has informed that the Hon’ble Madras High Court has set aside an assessment order issued by the Deputy Commissioner of Income Tax, which involved a tax demand of approximately ₹3,567.22 lakh for the Assessment Year 2016-17. The court ruled that the assessment was made without providing a reasonable opportunity for the company to be heard. As a result, the tax demand has been nullified.