Ansal Housing receives ₹19.2 Cr Income Tax demand for AY24-25

Ansal Housing Ltd has received an Assessment Order under Section 143(3) read with Section 144B and a Notice of Demand under Section 156 of the Income-tax Act, 1961, from the Income Tax Department. The demand, totaling ₹19,20,46,800, is for Assessment Year 2024-25 and primarily stems from additions and disallowances related to expenses, income recognition, and other adjustments. The company states there is no immediate impact on its financial, operational, or other activities. Ansal Housing intends to file an appeal against the order, based on legal advice, and believes it has adequate grounds to contest the demand, expecting a favorable outcome. The company also noted a delay in disclosure due to time taken for internal materiality assessment.