 "Grasim")
The income-tax (I-T) department has slapped a hefty tax demand notice on Aditya Birla group firm Grasim Industries, asking it to pay Rs 5,872 crore on account of the dividend distribution tax on Aditya Birla Capital shares that Grasim received after the demerger of Aditya Birla Capital from Aditya Birla Nuvo.
In a statement to the stock exchanges, Grasim said the order was not tenable in law and the company was taking necessary action against the order.
According to the company, the deputy commissioner of income tax (DCIT) issued a show-cause notice on February 11, which was subsequently revised on March 1,
