Legal1 April 2026 at 01:11 pm
Lancer Container Lines Ltd Receives Demand Notice of Rs. 5 Crore from Income Tax Department
AI Summary
Lancer Container Lines Ltd has received an Assessment Order under Section 143(3) read with Section 144B of the Income Tax Act, 1961, for the Assessment Year 2024-25, with a demand of Rs. 5,53,89,060/-. The Company believes the demand is not maintainable and is planning to prefer an appeal and seek rectification. The order does not have an immediate impact on the financials, operations, or other activities of the Company.
Key Highlights
- Lancer Container Lines Ltd has received a demand notice of Rs. 5,53,89,060/- from the Income Tax Department for the Assessment Year 2024-25.
- The demand is in relation to an Assessment Order under Section 143(3) read with Section 144B of the Income Tax Act, 1961.
- The Company plans to prefer an appeal and seek rectification against the order.
- The Company believes the demand is not maintainable.
- There is no immediate impact on the financials, operations, or other activities of the Company due to the order.