Pritika Auto Industries Receives Tax Demand Notice for Assessment Year 2025-26
Pritika Auto Industries Limited recently received an income tax intimation raising a demand for the Assessment Year 2025-26. The notice was issued by the Centralized Processing Center of the Income Tax Department on May 15, 2026.The intimation raised a demand of Rs. 1,83,81,330/- under Section 156 of the Income Tax Act, 1961.
According to the details provided by the company, the tax demand was received on May 15, 2026, at 01:46 p.m. via email.
Details of the Tax Demand
The company noted that it has no violation or contravention committed. The demand for the Assessment Year 2025-26 was determined to be based on a mistake in the initial calculation done under Section 143(1) of the Income Tax Act, 1961.The discrepancy arose because the book profit under Section 115 JB was wrongly enhanced by the amount of depreciation, calculated at Rs. 13,85,61,837/- when determining the Minimum Alternate Tax (MAT).
The management stated that the mistake is apparent from the records and that the company is proceeding by filing a rectification application under Section 154 of the Income Tax Act, 1961, and appealing the matter before the relevant authority. The company expressed confidence that the mistake will be rectified and the demand deleted.
Financial Impact Assessment
In assessing the overall financial health of the listed entity, Pritika Auto Industries Limited stated that there is no material impact on the company's financials, operations, or other activities resulting from this specific demand for the current financial year.For a summary of the key financial details, please refer to the table below:
| Parameter | Detail |
|---|---|
| Authority Issuing Demand | Centralized Processing Center, Income Tax Department |
| Assessment Year | 2025-26 |
| Demand Amount | Rs. 1,83,81,330/- |
| Section of Demand | Section 156 of the Income Tax Act, 1961 |
| Date of Receipt | May 15, 2026 |
| Reported Impact on Operations | None; no material impact on financials or operations. |
PRITIKAUTO Stock Price Movement
On Friday, shares of Pritika Auto Industries Limited edged higher to close at ₹13.9, gaining 1.32% for the session. The equity posted a gain of ₹0.18 and recorded a total traded volume of 50,337 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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