Legal7 April 2026 at 08:02 am
Tirupati Sarjan Ltd. Receives Notice of Demand from Income Tax Department - Appeal Process Initiated
AI Summary
Tirupati Sarjan Ltd. has disclosed receiving a Notice of Demand under Section 156 of the Income Tax Act, 1961. The company is in the process of preferring an appeal before the Appellate Authority or exploring other legal options against the demand. The delay in disclosing the material event was due to high workload during the financial year closing activity and the unnoticed email containing the demand notice.
Key Highlights
- Tirupati Sarjan Ltd. received a Notice of Demand under Section 156 of the Income Tax Act, 1961.
- The company is in the process of preferring an appeal before the Appellate Authority or seeking other legal options.
- The delay in disclosing the material event was due to high workload and an unnoticed email containing the demand notice.
- The demand notice was received on 26th, 28th, and 30th March 2026.
- Tirupati Sarjan Ltd. is taking necessary actions to address the situation and ensure timely disclosures in the future.