Jyothy Labs Resolves ₹110.64 Crore Tax Demand
Jyothy Labs Limited announced that it received an Income-tax assessment order on March 30, 2026, under Section 143(3) of the Income-tax Act, 1961 for Assessment Year 2024-25, raising a tax demand of ₹110.64 Crore, including interest of ₹21.84 Crores.Subsequently, on the same date, the company received a rectification order under Section 154 of the Act. Based on a suo-motu rectification by the Income-tax Department, the entire tax demand, including applicable interest, has been nullified.
The initial demand stemmed from computational errors during the processing of the Return of Income and issues related to recurring matters. The company has previously received favorable orders from the Income Tax Appellate Tribunal and Commissioner of Income Tax (Appeals) regarding these recurring issues.
Jyothy Labs is in the process of filing an appeal regarding the recurring issues. The company anticipates no material impact on its financials, operations, or other activities.
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