Tax & Penalty13 Nov 2026, 07:03 pm
Powerica Ltd to Receive ₹15.98 Cr Income Tax Refund
AI Summary
Powerica Limited has received an order from the Income Tax Department confirming an income tax refund of ₹15,98,56,158 (₹15.98 Crore) payable to the company. This follows a rectification application filed by Powerica after an initial demand for Assessment Year 2025-26. The tax authorities found the company's contentions to be correct, leading to the refund determination. The company apologized for a delay in acknowledging the communication due to high-priority workload related to financial results.
Key Highlights
- Income Tax refund of ₹15.98 Crore confirmed for Powerica Ltd.
- Order received under Section 154 of the Income-tax Act, 1961.
- Rectification process found company's contentions correct.
- No material impact on financials or operations expected.
Price Impact
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