TVS Srichakra Ltd. Receives Income Tax Demand Notice of ₹29.47 Crores for FY 2017-18

TVS Srichakra Ltd. has received an Income Tax Demand Notice from the Assessment Unit of the Income Tax Department on 26th March 2026. The notice, with DIN No. ITBA/AST/S/156/2025-26/1087920366(1), is regarding disallowance under section 14A for FY 2017-18 (AY 2018-19). The total demand raised amounts to ₹29,47,06,740/- (including tax and interest). The Company does not expect any material financial implications, as it believes the demand notice lacks merit. Penalty proceedings under section 270A have been proposed for under-reporting of income. The Company intends to file an appeal against the order with the Commissioner of Income Tax (Appeals) within 30 days, contesting the demand notice.