EPEpigral543332Tax or GST

Income-tax assessment order with notice of demand of Rs.28.11 crore

Epigral Ltd has received an assessment order from the Deputy Commissioner of Income Tax, Circle 2(1)(1), Vadodara, for Assessment Year 2023-24 (Financial Year 2022-23).

By ScoutQuest · Thu 29 Oct 2026, 6:56 PM IST · 2 min read

Tax Demand Amount

Rs.28.11 crore, including applicable interest

Assessment Year

Assessment Year 2023-24 (Financial Year 2022-23)

Order Received Date

28/10/2026

What the company disclosed

• Epigral Ltd received an assessment order from the Deputy Commissioner of Income Tax, Circle 2(1)(1), Vadodara.
• The order covers Assessment Year 2023-24, which pertains to Financial Year 2022-23.
• It was passed under section 143(3) read with section 144C(13) of the Income-tax Act, 1961, and is accompanied by a notice of demand under section 156 of the Income-tax Act, 1961.
• The notice of demand is for Rs.28.11 crore, including applicable interest.
• The company received the order on 28/10/2026.

How the company reads it

• Epigral states the assessment order is in the ordinary course of assessment proceedings.
• It says it has adequate factual and legal grounds to reasonably and technically substantiate its position.
• It states there is no financial impact on the financials, operations or other activities of the company on account of the order.
• It believes the consequent demand is not maintainable.

What happens next

• The company says it is in the process of update a rectification application against the order.
• It is also update an appeal against the order within prescribed timelines.

What a retail investor may want to track

• The outcome of the rectification application and the appeal.
• Whether the demand of Rs.28.11 crore is reduced, set aside or upheld, since that is the figure the company itself has put on record.
• Any provision or disclosure relating to this demand in the company's financial statements going forward.

How to read this kind of notice

• An assessment order is the tax officer's view of income for a past year; a notice of demand states the tax and interest payable on that view. It is not a final recovery until the company's remedies are exhausted.
• The company's own position is that the demand is not maintainable and that it expects no financial impact. This is the company's stated view and not an outcome.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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