Golden Tobacco Limited

The Income-Tax Appellate Tribunal in Mumbai has quashed a tax demand of ₹33.14 crore served on Golden Tobacco pertaining to assessment years 1984-85 to 1986-87, the company said in an exchange filing. The tribunal quashed the order passed by Commissioner of Income Tax (Appeal) on March 7. As a result, interest and penalty payments related to the tax demand will not be payable anymore, the company said. Shares of Golden Tobaco were up 15.6 per cent at ₹80.9 on the NSE.