Legal23 Apr 2025, 06:15 pm
Info Edge (India) Ltd Challenges Rs. 17 Crore Income Tax Demand for AY 2023-24
AI Summary
Info Edge (India) Ltd, the parent company of Naukri.com, has filed an appeal before the Commissioner of Income Tax (Appeals), Income Tax Department, National Faceless Appeal Centre, challenging the Assessment Order and consequential Notice of Demand of Rs. 17,05,15,170/- received from the Assessment Unit, Income Tax Department for Assessment Year 2023-24. The dispute primarily relates to ESOP expenses claimed by the Company, which have been disallowed in the order. The Company is anticipating a favourable outcome and does not reasonably expect the same to have any material financial impact.
Key Highlights
- Info Edge (India) Ltd has filed an appeal against an Assessment Order and consequential Notice of Demand of Rs. 17,05,15,170/- for AY 2023-24.
- The dispute primarily relates to ESOP expenses claimed by the Company, which have been disallowed in the order.
- The Company is anticipating a favourable outcome and does not expect any material financial impact.
- Similar disallowances for AY 2016-17 and 2022-23 are pending before the Commissioner of Income Tax appeal.
- Disallowances for other financial years have been decided in favour of the Company by the Income Tax Appellate Tribunal.