Kokuyo Camlin Limited Receives Income Tax Assessment Order
Kokuyo Camlin Limited announced today, March 23, 2026, that it has received an order from the Office of the DS Income Tax, assessment unit, Income Tax Department, National faceless unit, India. The order, dated March 20, 2026, pertains to a demand for income tax, interest, and penalty for Assessment Year 2018-19.The order was issued under sections 147 and 143(3) read with section 144B of the Income Tax Act, 1961, and includes charges for interest under sections 234A, 234B, 234C, and 234D of the Act. The Income Tax Department alleges discrepancies in balances of certain trade creditors, treating them as unexplained liabilities and making additions to income. The order also involves a re-computation of book profits under Section 115JB (MAT).
As a result of this order, a demand of ₹ 1,62,96,90,500 (including interest) has been raised on the company.
Kokuyo Camlin Limited is currently evaluating the order and believes it to be erroneous, including apparent mistakes in the re-computation of income and book profits. The company intends to first file an application for rectification under the applicable provisions of the Income Tax Act, 1961. If rectification efforts are unsuccessful, the company will pursue legal remedies, including an appeal before a competent appellate authority. The company currently does not expect a material impact on its financial position.
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.