Kokuyo Camlin Limited Receives Rectification Order Regarding Income Tax Demand
Kokuyo Camlin Limited announced on April 2, 2026, that it received a rectification order from the Office of the Deputy Commissioner of Income Tax Circle 2(1)(1), Mumbai. The order modifies a previous reassessment order concerning Assessment Year 2018-19.Previously, on March 23, 2026, the company disclosed receipt of a reassessment order dated March 20, 2026, for Assessment Year 2018-19, resulting in a demand of Rs. 162.97 crore. Following a rectification application and subsequent follow-up, the Income Tax Department issued a rectification order on March 30, 2026, which revised the demand.
The revised demand has been reduced from Rs. 162.97 crore to Rs. 34.05 crore, including interest. The rectification order modifies the original order dated April 16, 2021, amounting to Rs. 20.26 crore, determined under the original assessment order for Assessment Year 2018-19. The revised computation results in an incremental tax liability of Rs. 3.05 crore (₹ 30,538,227) compared to the original tax demand, along with additional interest.
Kokuyo Camlin believes the rectified order is appealable and intends to contest the residual demand. The company is already appealing the original assessment order dated April 16, 2021, and will pursue legal recourse, including filing an appeal on additional grounds, before the appropriate appellate authority. The company currently anticipates no material impact on its financial position or operations.
| Particulars | Details |
|---|---|
| Date of receipt of communication from the authority | 01-04-2026 |
| Impact on financial, operational, or other activities of the listed entity, quantifiable in monetary terms to the extent possible. | The demand has been reduced from Rs. 162.97 crore to Rs. 34.05 crore (including interest). The revised computation results in an incremental tax liability of Rs. 3.05 crore (₹ 30,538,227) compared to the original tax demand. Kokuyo Camlin currently anticipates no material impact on its financial position or operations. |
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