Legal7 April 2026 at 07:32 am
Tirupati Sarjan Ltd. Delays Disclosure of Income Tax Demand Notice Due to Account Department Overload and Email Mismanagement
AI Summary
Tirupati Sarjan Ltd. has clarified a discrepancy remark received from the stock exchange regarding the delay in disclosing a notice of demand under Section 156 of the Income Tax Act, 1961. The company states that the email containing the demand notice, received on 26th, 28th, and 30th March 2026, was inadvertently missed by the accounts manager who was occupied with financial year-end activities. The delay in disclosure was not intentional, and the company immediately filed an intimation upon noticing the issue on 1st April 2026. The company is appealing the demand notice.
Key Highlights
- Tirupati Sarjan Ltd. delays disclosure of Income Tax demand notice
- Email containing demand notice missed due to account department overload
- Company immediately filed intimation upon discovering the issue
- Company is appealing the Income Tax demand notice
- No quantification of penalty has been passed except for the demand amount