Aeroflex Industries Limited Receives Order from Income Tax Department
Aeroflex Industries Limited announced receipt of an order from the Assessment Unit of the Income Tax Department on March 25, 2026. The order, dated March 25, 2026, pertains to the assessment year 2018-2019 and involves a demand of Rs. 41,75,88,940.The demand stems from a disallowance of a claim for waiver of interest on a working capital loan in a one-time settlement, which the Income Tax Department considers non-taxable under section 41 of the Income Tax Act, 1961.
The company intends to file an appeal before the Appellate Authority and anticipates a favorable outcome. Aeroflex Industries Limited does not expect the order to have a material financial impact.
The delay in disclosing the order, received via email at 10:17 P.M. on March 25, 2026, was attributed to relevant personnel being on leave on March 26, 2026, due to the Ashtami and Ram Navami festival. The disclosure was submitted on March 27, 2026.
Ruthu Parampogi, Company Secretary & Compliance Officer (M. No.: A60982), made the disclosure.
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