Standard Engineering Technology Limited (formerly Standard Glass Lining Technology Limited) has disclosed an Income Tax demand of ₹1,64,96,940/- for the Financial Year 2019-20 (Assessment Year 2020-21).

The demand was raised by the Assessment Unit of the Income Tax Department following a review of certain sales transactions from FY 2019-20.

The company stated that all transactions were genuine, recorded in its books, reported in GST returns, and settled through banking channels without cash involvement. Despite the Assessing Officer's proposed addition, the company maintains confidence in its accounting and reporting practices.

Standard Engineering Technology Limited expects no financial or operational implications from this order. The company intends to file a necessary appeal with the appellate authority within the permissible timeline.