Tax demand of Rs. 94.00 crore dropped in entirety; show cause notice proceedings closed with NIL demand
Order passed by The Deputy Commissioner of Commercial Taxes, Bengaluru, Karnataka on October 05, 2026.
- Demand Dropped
- Rs. 94.00 crore has been dropped in its entirety
- Order Date
- October 05, 2026
- Proceedings Closed
- NIL Demand of Tax, Interest & Penalty
What the company informed the exchanges
The company stated that it had submitted its detailed reply to a Show Cause Notice issued by The Deputy Commissioner of Commercial Taxes, Bengaluru, Karnataka. Based on the merits, an Order has been passed by the Deputy Commissioner of Commercial Taxes on October 05, 2026.
What the Order records
- The entire demand of Rs. 94.00 crore has been dropped in its entirety.
- The show cause notice proceedings stand closed with NIL Demand of Tax, Interest & Penalty.
Why the number matters
The amount that was under demand was Rs. 94.00 crore. The Order states this demand has been dropped in its entirety, and that the closure is with nil demand of tax, interest and penalty, so no tax, interest or penalty outflow arises from these proceedings as per the Order.
Background
The company said this intimation is in continuation of its earlier announcement dated September 16, 2026, which related to the Show Cause Notice issued by the Deputy Commissioner of Commercial Taxes, Bengaluru, Karnataka.
In simple terms
A show cause notice is issued by a tax authority asking a company to explain why a proposed demand should not be raised. In this case, the company replied to the notice, and the authority's Order dropped the full demand and closed the proceedings. The company added that this information will also be hosted on its website.
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More numbers
- Demand dropped in its entiretyRs. 94.00 crore
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