Legal25 Mar 2026, 07:50 pm
Max India's Subsidiary Faces Rs. 31.53 Crore Tax Demand for AY 2024-25
AI Summary
Max India Ltd. has announced that its step-down wholly owned subsidiary, Antara Purukul Senior Living Limited, has received an assessment order under section 143(3) of the Income Tax Act, 1961 for the assessment year 2024-25. The order raises a demand of Rs. 31.53 Crore. The company mentioned that there are mistakes apparent from the record and will file a rectification petition and an appeal against all additions made in the assessment order before the relevant appellate authority.
Key Highlights
- Max India's subsidiary, Antara Purukul Senior Living Limited, received an assessment order under section 143(3) of the Income Tax Act, 1961
- The order raises a tax demand of Rs. 31.53 Crore for the assessment year 2024-25
- The company plans to file a rectification petition due to apparent mistakes in the record
- An appeal will be made against all additions made in the assessment order before the relevant appellate authority
- The financial implications on Max India Limited are expected to be the tax demand of Rs. 31.53 Crore on its subsidiary