Legal31 March 2026 at 02:01 pm
P N Gadgil Jewellers Ltd Receives IT Assessment Order for AYs 2021-24 with Demand of INR 6.55 Crore
AI Summary
P N Gadgil Jewellers Ltd has received an assessment order under section 143(3) read with section 147 of the Income Tax Act for the assessment years 2021-24. The total demand of INR 6.55 crore is due to non-acceptance of claims related to royalty expenses, disallowance under section 40(a), and additions under section 69A. The company believes the claims are not sustainable in law and is in the process of filing appeals. The orders were received on March 31, 2026.
Key Highlights
- P N Gadgil Jewellers Ltd received an IT assessment order for AYs 2021-24.
- The total demand is INR 6.55 crore due to non-acceptance of certain claims.
- The company believes the claims are not sustainable in law and is filing appeals.
- The orders were received on March 31, 2026.
- The assessment orders cover AYs 2021-24 with demands for AYs 2021-22, 2022-23, and 2023-24.