India Pesticides Limited Receives Tax Demand Notice amounting to ₹7.09 Crore
India Pesticides Limited has received a Notice of Demand concerning income tax, as part of block assessment proceedings initiated after a search operation. The demand stands at ₹7,09,58,949.00 for the specified assessment period.The tax proceedings were initiated following a search and seizure operation conducted on the Company and its group entities on December 12, 2024. Subsequently, block assessment proceedings were commenced under relevant sections of the Income-tax Act, 1961, covering the block period from April 1, 2018 to December 10, 2025.
The Assessing Officer made additions aggregating to ₹10,12,15,449 in this matter. This amount comprises allegations related to unexplained investment in stock under Section 69 and profit attributed to alleged unaccounted sales.
Key details of the communication received by India Pesticides Limited are summarized below:
| Detail | Information |
|---|---|
| Nature of Communication | Notice of Demand under Section 156 of the Income-tax Act, 1961 |
| Date of Receipt | June 29, 2026 |
| Period Covered | April 1, 2018 to December 10, 2025 |
| Quantum of Demand | ₹7,09,58,949.00 |
The Company has thoroughly examined the Notice of Demand and, based on legal counsel, maintains that the demand raised is not tenable in law. Management is currently evaluating options to avail legal remedies and file an appropriate appeal against the demand order.
Furthermore, management expressed confidence that there is no material financial impact resulting from this matter for India Pesticides Limited.
IPL Stock Price Movement
Shares of India Pesticides Limited slipped by 1.52% to close at ₹161.28 on Monday. The equity registered a total trading volume of 97,426 shares during the previous session.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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