Kokuyo Camlin's Income Tax Demand Reduced from Rs.162.97 Crore to Rs.34.05 Crore

Kokuyo Camlin Ltd. has received an order from the Office of the Deputy Commissioner of Income Tax, Mumbai, regarding the rectified demand of Income tax along with interest. The original reassessment order dated March 20, 2026, resulted in a demand of Rs.162.97 crore. However, after the company filed a rectification application and follow-up, the Income Tax Department passed a rectification order dated March 30, 2026, modifying the reassessment order, reducing the demand to Rs.34.05 crore. The rectified order has modified the original order amounting to Rs.20.26 crore determined under the original assessment order for Assessment Year 2018–19 passed under Section 143(3). The revised computation results in an incremental tax liability of Rs.3.05 crore and additional interest. The company believes that the rectified order is appealable and has strong grounds to contest the residual demand. They are already in appeal against the original assessment order for the same assessment year and will take appropriate legal recourse. The company does not expect any material impact on its financial position or operations at this stage.