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Ashima Ltd has received an income tax notice from the IT Department for ₹58.52 crore for the assessment year 2018-19. According to the company, there are certain errors in the computation by the Tax Department and it is in the process of filing rectification as well as an appeal before the Appellate Authority. Ashima had reported a net profit of ₹17.82 crore for FY18-19. For the Q1 and Q2 of the current fiscal, the company had posted a loss of ₹4.55 crore and ₹12 lakh, respectively.
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