Gillanders Arbuthnot & Company Ltd. Receives Notice of Demand under Section 156 of the Income Tax Act, 1961 for Assessment Year 2017-18

Gillanders Arbuthnot & Company Ltd. has disclosed a Notice of Demand under Section 156 of the Income Tax Act, 1961 for assessment year 2017-18, as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice raises a sum of ₹ 1,24,85,560/-. The Company is evaluating the matter and preparing an appropriate response, including filing a reply or an appeal before the relevant authority within the prescribed timeline. The Company believes the demand is not tenable and does not expect any material financial outflow on this account. The delay in disclosing the Notice was unintentional, and the Company is committed to adhering to all regulatory requirements and preventing such oversights in the future.