CreditAccess Grameen announced that pursuant to the quashing of Income Tax Assessment Order for AY18-19 dated 25 June 2021, by the Hon'ble High Court of Karnataka vide its Order dated 21 January 2022, wherein the total income tax demanded earlier was Rs 2,333 crore for the AY19, the said Income Tax demand has now been reduced to Rs 122.63 Crores under the fresh Assessment Order dated 28 February 2023, received from the Assessment Unit of Income Tax Department.
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