Income Tax Demand Order of ₹58,30,903 received under Section 154 for Assessment Year 2020-2021

The company has received a Demand Order under Section 154 of the Income Tax Act, 1961 for Assessment Year 2020-2021, raising a demand of ₹58,30,903 payable by it.

Thu 1 Oct 2026

Tax Demand Amount

₹58,30,903

Order Section

Section 154 of the Income Tax Act, 1961

Assessment Year

2020-2021

Issuing Authority

Assistant Commissioner of Income Tax -6(1)(2)

Stated Impact

no material impact on operations

What was disclosed

The company has informed the stock exchanges about a Demand Order it has received from the Assistant Commissioner of Income Tax -6(1)(2). The order was received on September 28, 2026 and was uploaded on the Income Tax e-update Site.

• Order is under Section 154 of the Income Tax Act, 1961
• It relates to Assessment Year 2020-2021
• Tax demand payable by the company: ₹58,30,903

What the demand is about

According to the update, the demand arises in connection with an excess refund issued earlier and the consequential adjustment / re-computation of interest under Section 244A of the Income-Tax Act, 1961.

The company states that no violation or contravention has been alleged against it, and that the demand relates to the excess refund received earlier and the consequential adjustment / re-computation of interest under Section 244A.

Impact stated by the company

The update states the order has resulted in a tax demand of ₹58,30,903 payable by the company. The company says it shall take necessary steps for discharge of the said demand in accordance with the applicable provisions of the Income-tax Act, 1961.

The company also states that there is no material impact on the operations of the company on account of the said order.

On the reason for delay, the update says the amount mentioned in the Demand Order under Section 154 is different as compared to the outstanding demands as per the E-update Site, and that the officer has raised an internal ticket for the same.

What a retail investor may note

• This is a tax demand order, not an allegation of violation or contravention by the company, as per the update
• The company has quantified the payable amount at ₹58,30,903
• The company has stated its intention to take necessary steps to discharge the demand under the Income-tax Act, 1961
• The company has stated there is no material impact on operations
• The company has indicated a difference between the amount in the order and the outstanding demands as per the e-update site, for which the officer has raised an internal ticket

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