Gillanders Arbuthnot Receives Income Tax Demand for Assessment Year 2017-18
Gillanders Arbuthnot & Company Limited announced on March 30, 2026, that it has received a notice of demand from the Income Tax Department. The demand, dated March 27, 2026, is related to the assessment year 2017-18 and amounts to ₹ 1,24,85,560.The company indicated that, in its opinion, the demand is not tenable. Gillanders Arbuthnot is currently evaluating the matter and intends to submit a response, which may include filing a reply or appeal with the relevant authority within the prescribed timeline.
Gillanders Arbuthnot stated that it does not anticipate a material financial outflow related to this matter. The company confirmed that the demand does not have a material impact on its financials, operations, or other activities, beyond the potential liability of ₹ 1,24,85,560 if the company's submissions are not accepted.
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