Tirupati Sarjan Ltd. Receives Income Tax Demand Notices
Tirupati Sarjan Ltd. announced it has received notices of demand under Section 156 of the Income Tax Act, 1961. The notices, received on March 30, 29, 28 and 26, 2026, relate to assessments for the years 2016-17, 2017-18, 2020-21 and 2018-19.The notices pertain to additions of unexplained expenditure and cash credit to the total income, as determined by the Assistant Commissioner of Income Tax, Gandhinagar Circle. The amounts demanded are Rs. 4,697,284.60, Rs. 5,86,36,170, Rs. 1,00,47,730, and Rs. 6,56,19,630 respectively.
The company is in the process of preferring an appeal before the Appellate Authority. The notices are part of a larger ongoing review, and the company maintains that the assessments are meritless. The financial and operational impact of these notices is currently being evaluated, and no quantification of penalty has been passed except for the amount of demand.
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