Tax & Penalty10 April 2026 at 11:31 am
CFS receives ₹5.47 Cr income tax demand for AY 2023-24
AI Summary
Camlin Fine Sciences Ltd has received a demand notice from the Income Tax Department under section 156 of the Income-Tax Act, 1961, for Assessment Year 2023-24. The demand amounts to ₹5,46,98,560 and is related to an Arm’s Length Price adjustment concerning transactions with its Associated Enterprises. The company received the order on April 10, 2026, and is required to deposit the sum within 30 days. Camlin Fine Sciences stated that this order has no impact on its financial, operational, or other activities and confirmed that it is in the process of filing an appeal against the demand.
Key Highlights
- Camlin Fine Sciences received an income tax demand of ₹5.47 Cr.
- Demand is for AY 2023-24 due to Arm’s Length Price adjustment.
- Company states no impact on financial or operational activities.
- CFS is preparing to file an appeal against the tax order.