Madhya Bharat Agro Products Limited Receives Income Tax Demand Notice
Madhya Bharat Agro Products Limited announced it received a Notice of Demand under Section 143(3) of the Income Tax Act, 1961, dated March 31, 2026, concerning the Assessment Year 2024-25. The notice was received from the Assessment Unit, Income Tax Department on March 31, 2026.The order relates to an assessment scrutiny case initiated under Section 143 of the Income Tax Act. The notice includes a demand of ₹ 7.20 crore.
According to the company, the order includes an adjustment to taxable income stemming from outstanding trade payables to Micro and Small Enterprises (MSEs) as of March 31, 2024, citing non-payment within prescribed time limits. Madhya Bharat Agro Products believes this adjustment is not in accordance with applicable legal provisions and intends to contest it through legal remedies.
The company anticipates no material financial impact and states it is confident of a favorable outcome. Management intends to file a rectification petition and may pursue other legal options.
Summary of Communication Details
| Particulars | Details |
|---|---|
| Name of the listed entity | Madhya Bharat Agro Products Ltd |
| Type of communication received | Order under Section 143(3) and Notice of demand under Section 156 of the Income-Tax Act, 1961 |
| Date of receipt of communication | 31 March 2026 |
| Period for which communication would be applicable | Assessment year 2024-25 |
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