Ador Welding Limited Receives Income Tax Demand Notice
Ador Welding Limited announced today that it received a notice of demand dated March 31, 2026, from the Income Tax Department, Ministry of Finance, Government of India. The notice pertains to matters relating to assessment year 2023-24 and a sum of Rs. 13,68,80,598 has been determined to be payable by the company.According to the assessment order, the Income Tax Department has made additions of Rs. 5,23,35,382 to the company’s returned income. Ador Welding Limited disputes these additions and intends to pursue legal options, including an appeal before the National Faceless Appeal Centre and a rectification application. The company is also evaluating other legal options.
The company believes the additions made in the assessment order and the resultant demand are not sustainable on legal and factual grounds. It anticipates that the order is not expected to have a material financial impact on the company's financial position, subject to the outcome of pending proceedings.
A show cause notice has been received under Section 274 read with Section 271AAC(1) of the Income-tax Act, 1961 for initiation of penalty proceedings. The company will respond appropriately.
Ador Welding Limited is currently taking legal steps in consultation with its tax advisors.
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