Aeroflex Industries Limited Receives Income Tax Order, Impact Anticipated to be Minimal
Aeroflex Enterprises Limited announced on March 27, 2026, that its subsidiary, Aeroflex Industries Limited, has received an order from the Assessment Unit of the Income Tax Department. The order, dated March 25, 2026, raises a demand of Rs. 41,75,88,940.The demand pertains to the disallowance of a claim for waiver of interest on a working capital loan in a one-time settlement, considered non-taxable under section 41 of the Income Tax Act, 1961, for the assessment year 2018-2019. The order's reference number is ITBA/AST/S/ 147/2025-26 /1087896760(1).
Aeroflex Industries Limited plans to file an appeal with the Appellate Authority and anticipates a favorable outcome, expecting the order to have no material financial impact.
The delay in disclosing the order, received by Aeroflex Industries Limited on March 25, 2026, was attributed to the concerned personnel being on leave on March 26, 2026, for the Ashtami and Ram Navami festival. The matter was subsequently escalated to the Company Secretary and Compliance Officer upon resuming duties on March 27, 2026.
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