Arrow Greentech Limited Receives Demand Order for Rs. 1.80 Crores from Income Tax Department
March 17, 2026 – Arrow Greentech Limited announced today that it received a demand order from the Income Tax Department regarding a penalty order for the assessment year 2017-18. The demand order, received on March 16, 2026, pertains to a penalty of Rs. 1.80 crores issued by the Assessment unit of the Income Tax Department.The penalty stems from a dismissal of an appeal under section 250 of the Income Tax Act against disallowances of certain expenditure and deductions. Arrow Greentech intends to file an appeal against the penalty order within the prescribed timeframe.
According to the company, the demand notice is not expected to have a material impact on its financial, operational, or other activities. Arrow Greentech has already filed an appeal with the Income Tax Appellate Tribunal (ITAT) and has requested the Commissioner of Income Tax to hold recovery until the outcome of the ITAT proceedings.
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