Tax & Penalty30 May 2026, 03:52 pm
Ansal Housing: Income Tax Order Rectified; Demand at ₹19.2 Cr
AI Summary
Ansal Housing Ltd. received an order dated May 27, 2026, from the Income Tax Department rectifying the assessment order for the Assessment Year 2024-25. The rectification, received via email on May 29, 2026, was made under Section 154 read with Section 143(3) of the Income-tax Act, 1961. It allows for the set-off of certain brought-forward losses, which were previously not considered. The initial demand was ₹19,20,46,800. The company is evaluating the financial impact of the rectification order and reviewing the order to take necessary steps in accordance with applicable law.
Key Highlights
- Ansal Housing received a rectified income tax assessment order for AY 2024-25.
- The order, under Section 154, rectifies the original assessment by allowing set-off of prior losses.
- The initial demand for AY 2024-25 was ₹19,20,46,800.
- The company is evaluating the financial impact of the rectified order.
- There is no adverse impact on the company's operations.
Price Impact
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