CRISIL Limited Receives Re-assessment Order Regarding Income Tax Return for AY 2017-18
CRISIL Limited announced on March 24, 2026, that it received a re-assessment order from the Income Tax Authority concerning its income tax return for Assessment Year 2017-18. The order relates to the company's merged subsidiaries and financial year 2016-17.According to the Income Tax Authority, an initial re-assessment order was issued on March 23, 2026. While the Assessing Officer acknowledged that the income of the subsidiaries had already been merged with CRISIL Limited’s income and that taxes had been appropriately offered, an erroneous computation of tax resulted in an incorrect demand order. This involved unwarranted additions and a failure to credit taxes already paid.
The financial implications of the order are currently assessed to be minimal, with no immediate impact on the company's financial, operational, or other activities. CRISIL Limited plans to file a rectification application and an appeal against the order.
The demand raised amounts to INR 121.20 Crores.
| Detail | Information |
|---|---|
| Opposing Party/Agency | Income Tax Authority |
| Brief Details of Dispute | Re-assessment order u/s 147 for FY 2016-17 regarding merged subsidiaries; incorrect demand order due to erroneous tax computation. |
| Financial Implications | No immediate impact; company will file rectification application and appeal. |
| Quantum of Claims | INR 121.20 Crores |
Source:
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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.