Legal4 Apr 2026, 03:31 pm
Prataap Snacks Ltd Receives Assessment Order with Tax Demand of INR 15,36,16,600 for FY 2024-25
AI Summary
Prataap Snacks Limited has received an Assessment Order dated March 26, 2026, passed under Section 143(3) read with Section 144B of the Income-tax Act, 1961, along with a Notice of Demand dated March 26, 2026, issued under Section 156 of the Act. The assessment is in respect of scrutiny assessment for Assessment Year 2024-25. The total tax demand including interest stands at INR 15,36,16,600. The Company believes that it has adequate factual and legal grounds to substantiate its position in the matter and expects the demand to subside. There is no impact on financial operations or other activities of the Company.
Key Highlights
- Prataap Snacks Ltd received an Assessment Order and Notice of Demand from the Income Tax Department under Section 143(3) and Section 156 of the Income-tax Act, 1961
- The assessment is for the Assessment Year 2024-25
- The total tax demand including interest is INR 15,36,16,600
- The Company has filed an appeal before the Higher Appellate Authorities
- The Company believes it has adequate factual and legal grounds to substantiate its position in the matter and expects the demand to subside