Arrow Greentech Ltd. Receives Demand Order for Rs. 1.80 Crores from Income Tax Department
March 17, 2026 – Arrow Greentech Ltd. announced today that it has received a demand order from the Income Tax Department regarding a penalty order issued under Section 270(A) of the Income Tax Act, 1961, for the assessment year 2017-18. The demand order requires the company to pay a penalty of Rs. 1.80 crores.The penalty stems from a dismissal of an appeal under Section 250 against disallowances of certain expenditures and deductions claimed under various provisions of the Income Tax Act. Arrow Greentech Ltd. received the demand order on March 16, 2026.
According to the company, the demand order is not expected to have a material impact on its financial, operational, or other activities. Arrow Greentech Ltd. plans to file an appeal against the penalty order and has already filed an appeal with the Income Tax Appellate Tribunal (ITAT). The company has also submitted a letter to the Commissioner of Income Tax requesting a hold on recovery proceedings pending the outcome of the ITAT proceedings.
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