Legal2 April 2026 at 08:15 am
Tirupati Sarjan Ltd. Receives Income Tax Demand Notices; Company to Prefer Appeal
AI Summary
Tirupati Sarjan Ltd. has received notice(s) 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 other legal options against the said notice(s). The demand notices are related to the addition of unexplained expenditure under section 69C and Cash Credit under section 68 of the Act in the Total Income. The company has not quantified the penalty except for the amount of demand.
Key Highlights
- Tirupati Sarjan Ltd. received notice(s) 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 other legal options
- The demand notices are related to the addition of unexplained expenditure under section 69C and Cash Credit under section 68 of the Act in the Total Income
- No quantification of penalty has been passed except for the amount of demand
- The company is taking necessary actions to address the issue