Swastika Investmart Ltd Receives Order from Income Tax Appellate Tribunal, Reducing Tax Demand to Nil for FY 2014-15

Swastika Investmart Ltd has received an Order from the Income Tax Appellate Tribunal Mumbai, Bench u/s 143(3) of the Income Tax Act, 1961 for financial year 2014-15. The Order, bearing ITA No. 6214/MUM/2025 dated March 12, 2026, has been issued by the Assistant Registrar of the Income Tax Appellate Tribunal, Mumbai Bench. Pursuant to the submissions and representations made by the Company, the tax demand u/s 143(3) for the FY 2014-15 has been reduced, and the demand now stands at Nil. However, proceedings in respect of the demand raised under Section 156 of the Income Tax Act, 1961, pertaining to amount Rs. 50.50 lakhs, are still pending before the Commissioner of Income-tax (Appeals).