Allcargo Logistics Faces ₹5.61 Cr Tax Demand from Income Tax Dept

Allcargo Logistics Ltd has received a Notice of Demand from the Income Tax Department for ₹5,61,21,030 (approximately ₹5.61 crore) concerning the assessment for the block period April 1, 2018, to April 5, 2025. The demand arises from notional additions to total income, including transfer pricing adjustments for corporate guarantees and disallowance of salary expenditure related to foreign subsidiaries. The company states these adjustments have no impact on its operations or financial position and is evaluating legal remedies, believing it has grounds to contest the demand.