Powerica Limited Receives Show Cause Notice in Connection with Income Tax Assessment Year 2021-22
Powerica Limited has received a Show Cause Notice from the Income Tax Department regarding the Assessment Year (AY) 2021-22. The company downloaded the notice from the Income Tax portal on July 15, 2026.In relation to this development, Powerica Limited has also submitted a formal request seeking rectification of an underlying Assessment Order, which was dated March 26, 2026, issued under Section 147 read with Section 144B of the Income Tax Act, 1961. This penalty notice is understood to be a follow-up to those prior proceedings.
The material details concerning this communication and its implications for Powerica Limited are summarized below:
| Particulars | Details |
|---|---|
| Type of Communication | Show Cause Notice for Penalty under Section 270A of the Income Tax Act, 1961. |
| Issuing Authority | Income Tax Department. |
| Period Covered | Assessment Year 2021-2022. |
| Financial Impact | The company states there is no material impact on its financials or operations related to the said Assessment year in the current financial year. |
| Aberrations/Non-compliances | Not Applicable. |
| Penalty Status | No penalty or restriction has been imposed pursuant to the communication at this time. |
The company confirmed that the notice is rectifiable, and management is currently reviewing the order to evaluate the next steps in dealing with the matter. Powerica Limited reported no other relevant information concerning this tax assessment proceedings.
POWERICA Stock Price Movement
Today, Powerica Limited shares edged higher, settling at ₹574.25 after gaining 1.82% in the post-market session. The stock saw significant activity throughout the day, recording a total traded volume of 261,319 shares.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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