Purv Flexipack Faces Income Tax Demand for Three Assessment Years
Purv Flexipack Limited has received a demand notice from the Income Tax Department covering three different assessment years. The notice, issued under Section 156 of the Income Tax Act, 1961, relates to alleged additions and adjustments concerning undisclosed income.The Income Tax Department has raised tax demands for the assessment years 2024-25, 2022-23, and 2021-22.
The financial demands raised by the authority for the respective years are detailed below:
| Assessment Year | Tax Demand Amount |
|---|---|
| AY 2024-25 | Rs. 4,18,740 |
| AY 2022-23 | Rs. 32,39,490 |
| AY 2021-22 | Rs. 36,64,130 |
Purv Flexipack Limited stated that it does not agree with the aforesaid amounts. In response to the notice, the company has initiated the process of filing an appeal before the Commissioner of Income Tax (Appeals) [CIT(A)].
Regarding the operational impact, the company indicated that based on its assessment of facts and prevailing legal positions, it believes it has adequate grounds to contest the order. Purv Flexipack Limited further stated that the order does not have a material impact on its financial position or operations.
PURVFLEXI Stock Price Movement
Shares of Purv Flexipack Limited are rallying to ₹66.85 as of 1:49 PM, boosted by a solid 4.95% surge in live trading. The stock has seen 3,200 shares traded today, indicating continued positive momentum for the industrial packaging sector.Source:
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