Snowman Logistics: Rectified Tax Demand Reduced by ₹34.42 Lacs

Snowman Logistics Ltd. has received a rectification order from the Income Tax Department, reducing a previously issued demand notice. The original demand for Assessment Year 2024-25 was INR. 2,06,56,802/-. Following an application under Section 154, the revised demand stands at INR. 1,72,14,000/-, representing a reduction of INR. 34,42,802/-. The company has already filed an appeal against the penalty order and is optimistic about a favorable outcome. Snowman Logistics believes this rectification will have no significant impact on its financials, operations, or other activities.