Kumar Mangalam Birla, chairman of the Aditya Birla Group. (Photographer: Dhiraj Singh/Bloomberg)
Nearly two years after the Aditya Birla Group implemented a restructuring of group companies Nuvo, Grasim and Aditya Birla Capital, the income tax department has found fault with one leg of the transaction. Last week, Grasim Industries Ltd. informed stock exchanges of a Rs. 5,872 crore tax demand against it on account of Dividend Distribution Tax for the demerger leg of the restructuring.Here is a brief history of the transaction..Ba...