Tax & Penalty16 May 2026, 01:31 pm
Pritika Auto Faces ₹1.84 Cr Income Tax Demand for AY 2025-26
AI Summary
Pritika Auto Industries Ltd has received an intimation from the Income Tax Department, raising a demand of ₹1,83,81,330 under Section 156 of the Income Tax Act, 1961 for the Assessment Year 2025-26. The company believes the demand is due to a mistake in the order under Section 143(1) and plans to file a rectification under Section 154 and an appeal. Pritika Auto anticipates no material impact on its financials or operations.
Key Highlights
- Pritika Auto received an income tax demand of ₹1.84 Cr for AY 2025-26.
- The demand is attributed to an error in calculating book profit under Section 115JB.
- The company will file for rectification and appeal against the demand.
- Pritika Auto expects no significant financial or operational impact.
- The intimation was received on May 15, 2026, from the Income Tax Department.
Price Impact
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