Neptune Logitek Ltd. Wins Order to Drop Demand of Additional Income Tax

Neptune Logitek Ltd. has won an order to drop the demand of additional income tax from Rs. 38,33,83,869 to Rs. 38,33,20,118, except for Rs. 63,751, under the Income Tax Act, 1961. The company had received an assessment order for the Financial Year 2012-13, where the Income-tax Department had determined additional taxable income of Rs. 38,33,83,869. However, the Commissioner (Appeals) deleted the additional income to the extent of Rs. 38,33,20,118 in the appellate order passed on 27th January 2026. This order has no significant impact on the financials of the company, as it has been passed substantially in their favor, except for the interest under section 234B and penalty proceedings on Rs. 63,751.