TVS Srichakra Limited Receives Income Tax Demand Notice
TVS Srichakra Limited announced it has received an Income Tax Demand Notice from the Assessment Unit of the Income Tax Department. The notice, dated March 26, 2026, relates to a disallowance under Section 14A for the fiscal year 2017-18 (Assessment Year 2018-19).The demand notice, identified by DIN No. ITBA/AST/S/156/202526/1087920366(1), includes a total demand of ₹29.47 crores, encompassing tax, interest, and proposed penalties for under-reporting of income under Section 270A.
According to the company, it does not anticipate any material financial impact from the notice, citing that the discrepancies identified by the tax authority do not fully consider prior submissions and relevant case law. TVS Srichakra intends to appeal the order with the Commissioner of Income Tax (Appeals) within 30 days.
| Particulars | Details |
|---|---|
| Total Demand Raised | ₹29,47,06,740/- (including tax and interest) |
Chinmoy Patnaik, Company Secretary & Compliance Officer, disclosed the information.
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