Transport Corporation of India Limited Tax Demand Extinguished Following Rectification Order
Transport Corporation of India Limited has confirmed that the previously outstanding tax demand of ₹81.96 crore pertaining to Assessment Year 2024-25 has been fully extinguished after a rectification order was passed by the Jurisdictional Assessing Officer under Section 154 of the Income Tax Act, 1961.The company had earlier informed Stock Exchanges regarding an assessment order issued under Section 143(3) of the Income Tax Act, 1961, which resulted in a demand of ₹81.96 crore for Assessment Year 2024-25. In response to this matter, Transport Corporation of India Limited filed a rectification application.
The Jurisdictional Assessing Officer subsequently issued a Rectification Order, which was processed by the Centralized Processing Centre (CPC). According to the company, computational errors in the initial assessment were rectified and appropriate credit for TDS/TCS was allowed.
As a result of this action, the entire tax demand of ₹81.96 crore is now fully extinguished. The outstanding demand against Transport Corporation of India Limited for Assessment Year 2024-25 stands at Nil. This development means there is no adverse financial or operational impact on the company arising from the said assessment order.
The details of this tax resolution are provided below:
| Particulars | Details |
|---|---|
| Authority Name | Jurisdictional Assessing Officer, Income Tax Department. |
| Nature of Action | Rectification Order under Section 154 of the Income Tax Act, 1961 for Assessment Year 2024-25. The rectification included rectifying computational errors and allowing full credit for TDS/TCS. |
| Order Date | June 15, 2026. |
| Demand Status | The Rectification Order resulted in the earlier tax demand of ₹81.96 crore being reduced to Nil. |
TCI Stock Price Movement
As of 3:25 PM, shares of Transport Corporation of India Limited are edging higher to ₹930.75, gaining 0.06% in live trading. The stock records a volume of 18,855 shares as it trades upward during the afternoon session.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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