Powerica Limited Receives Rectification Order Regarding Tax Demand for Assessment Year 2025-26
Powerica Limited has received a rectification order concerning a tax demand related to the Assessment Year 2025-26, revising the initial amount previously notified by tax authorities. The company is currently reviewing the revised order and evaluating subsequent steps in this matter.The notification states that the Company had initially faced a Tax Demand amounting to Rs. 30,27,98,870/- under Section 143(1) of the Income Tax Act, 1961, for Assessment Year 2025-26. Following this initial demand, Powerica Limited filed a formal response with the Income Tax Authorities on June 17, 2026.
On June 29, 2026, the Company received a rectification order under section 154 of the Act from the Centralized Processing Center, Income Tax Department, Bengaluru. This order revises the tax demand amount to Rs. 31,13,00,750/- in respect of Assessment Year 2025-26, with the revision accounting for TDS set-off.
The details regarding this communication from the regulatory authority are summarized below:
| Particulars | Details |
|---|---|
| Type of Communication Received | Rectification Order received on June 29, 2026, under sec 154 of the Act for Assessment Year 2025-26. |
| Authority | Centralized Processing Center, Income Tax Department, Bengaluru. |
| Material Content Summary | Revised tax demand of Rs. 31,13,00,750/- under Sec 154 of the Act in respect of Assessment Year 2025-26, revised due to TDS set-off. |
| Period Applicable | Assessment Year 2025-26. |
| Financial Implications | There is no material impact on the financials or operations of the Company relating to this order for the current financial year. |
| Action Taken by Powerica Limited | The Order is rectifiable, and the Company is reviewing the order and evaluating next steps. Further, the Company has filed a rectification application against the earlier demand. |
The company confirmed that there are no aberrations or penalties imposed pursuant to the receipt of this communication from the regulatory authority regarding the tax matters for Assessment Year 2025-26.
POWERICA Stock Price Movement
Powerica Limited's shares tumbled today in the post-market session, closing down 5.00% at ₹627.25 after a day of selling pressure. The equity concluded trading on heavy volume of 403,767 shares, following an earlier period where the stock had successfully achieved its 52-week high.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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