Legal26 Mar 2026, 01:18 pm
Fractal Analytics Ltd Receives Draft Assessment Order for AY 2023-24 with Proposed INR 156.56 Crore Adjustments
AI Summary
Fractal Analytics Ltd has received a Draft Assessment Order under section 144C(1) of the Income Tax Act, 1961 for the Assessment Year 2023-24. The draft order proposes total additions of INR 156.56 crore on account of certain transfer pricing and corporate tax adjustments for the Financial Year 2022-23. The company will file its objections before the Dispute Resolution Panel. Penalty proceedings under section 270A of the IT Act will be initiated separately for under-reporting of income, as stated in the draft order.
Key Highlights
- Fractal Analytics Ltd received a Draft Assessment Order under section 144C(1) of the Income Tax Act, 1961 for AY 2023-24.
- The draft order proposes total additions of INR 156.56 crore on account of transfer pricing and corporate tax adjustments.
- The financial implications will be determined post receipt of the final assessment order.
- Penalty proceedings for under-reporting of income will be initiated separately.
- The company will file its objections before the Dispute Resolution Panel.