TVS Srichakra Ltd. Reports Reduction in Income Tax Demand Following Rectification Order
TVS Srichakra Ltd. has provided an update regarding a previously disclosed Income Tax Demand Notice related to the financial year 2017-18. The company announced that the tax demand, initially raised, has been significantly reduced following a rectification order issued by the Deputy Commissioner of Income Tax.The initial tax demand notice was received by the company on March 26, 2026, relating to a disallowance under Section 14A of the Income-tax Act, 1961. The Original Order, bearing DIN No. ITBA/AST/S/156/2025-26/1087920366(1), had raised a total tax demand of ₹29,47,06,740/- for FY 2017-18.
Following the company's submission of a rectification application, the Deputy Commissioner of Income Tax issued an order on April 29, 2026. This order rectified the tax demand, resulting in a reduction of the amount owed.
The revised tax demand, comprising only the Tax Portion, has been reduced from ₹29,47,06,740/- to ₹3,11,10,474/-.
The financial implications of the change in tax demand can be summarized as follows:
| Detail | Original Demand Amount | Rectified Demand Amount |
|---|---|---|
| Tax Demand | ₹29,47,06,740/- | ₹3,11,10,474/- |
The company stated that it will continue to evaluate the rectification order and take appropriate action as deemed necessary. Furthermore, TVS Srichakra Ltd. had previously filed an appeal against the Original Order dated March 26, 2026, which is currently pending for hearing before the Commissioner of Income Tax (Appeals).
The company added that the aforementioned rectification order does not result in any material impact on its financial position, operations, or other business activities.
TVSSRICHAK Stock Price Movement
Shares of TVS Srichakra Limited are edging higher to ₹3939.1 as of 11:16 AM today, gaining 0.34% in live trading. The stock's upward movement, with 622 shares traded so far, reflects positive buyer momentum during the current market 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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