Legal18 Mar 2026, 06:31 pm
Physicswallah Ltd Receives Income Tax Assessment Order with Rs. 263.34 Crore Demand
AI Summary
Physicswallah Ltd has received an assessment order under Section 143(3) of the Income-tax Act, 1961, with a demand notice dated March 16, 2026. The Income Tax Department has treated certain investments as taxable income, resulting in a tax demand of Rs. 263.34 crore for the Assessment Year 2023-24. The company is planning to file an appeal before the appropriate appellate authority, considering they have strong legal and factual grounds.
Key Highlights
- Physicswallah Ltd received an assessment order under Section 143(3) of the Income-tax Act, 1961.
- The Income Tax Department treated certain investments as taxable income, resulting in a tax demand of Rs. 263.34 crore for the Assessment Year 2023-24.
- The company is planning to file an appeal before the appropriate appellate authority.
- The assessment order and demand notice were received on March 16, 2026.
- The company believes they have strong legal and factual grounds to challenge the assessment order.