BLB Limited Receives Rectification Order, Clearing Tax Demand for A.Y. 2025-26
BLB Limited announced a key update regarding its tax standing, confirming that it received a rectification order from the Income Tax Department. The order, received on May 26, 2026, rectified the tax demand for the Assessment Year (A.Y.) 2025-26, resulting in a Nil Demand.The Company confirmed that the rectified return income has been accepted by the Income Tax Department.
Background of the Rectification
The rectification process stemmed from an earlier intimation order issued by the Income Tax Department. The Department had inadvertently added income amounting to Rs. 197.48 Lacs twice under the head 'Schedule BP - Business and Profession' while processing the return for A.Y. 2025-26 under Section 143(1) of the Income Tax Act, 1961.The Company addressed this discrepancy by filing an application for rectification under Section 154 of the Income Tax Act, 1961, recognizing the adjustment as a mistake apparent from records. The subsequent rectification order confirmed that the original tax demand was corrected to Nil Demand.
Key Details of the Tax Settlement
The core details regarding the rectification process are summarized below:| Particulars | Details |
|---|---|
| Authority | Income Tax Department |
| Action Taken | Rectification Order under Section 154 of the Income Tax Act, 1961 |
| Assessment Year | 2025-26 |
| Date of Order | May 26, 2026 |
| Tax Demand Status | Rectified to Nil Demand |
| Financial Impact | Nil |
The company noted that the receipt of the rectification order marks the closure of the matter, confirming that the corrected returned income has been officially accepted by the Income Tax Department.
BLBLIMITED Stock Price Movement
Today, BLB Limited shares edged higher by ₹0.09, closing at ₹16.70, marking a gain of 0.54%. Trading saw the stock hit a range of ₹16.37 to ₹16.88, with a total volume of 45,611 shares reported today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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