Income tax demand notice of Rs 2,06,56,802/- for penalty on under-reported income, AY 2024-25

Snowman Logistics has disclosed a Notice of Demand from the Income Tax Department.

Fri 2 Oct 2026

Penalty Amount

Rs 2,06,56,802/-

Penalty Section

section 270A(13) of the Income Tax Act, 1961

Assessment Year

2024-25

Demand Notice Date

30-September-2026

Notice Received

over e-mail on 02-October-2026

Tax demand notice received

• The company has disclosed a Notice of Demand dated 30-September-2026, received over e-mail on 02-October-2026 from the Income Tax Department.
• The notice has been issued under Section 156 of the Income Tax Act, 1961, for an amount aggregating to Rs 2,06,56,802/-.
• This amount is a penalty under section 270A(13) of the Act, regarding under-reported income for Assessment Year 2024-25.
• The demand has been raised by the Office of the Additional Commissioner of Income Tax, Central Circle 2(1), Mumbai.

What the company has stated

• Based on its assessment, the company believes that the penalty orders are not sustainable.
• The company says it is taking necessary steps to appeal against the orders before the appropriate Authority.
• It states that it is hopeful of a favourable outcome at the appellate level.
• Accordingly, the company believes that there is no impact on its financials, operations or other activities.

How a retail investor can read this

• A demand notice is the tax authority's claim of an amount payable; here the company has stated that it will contest it. What finally becomes payable, if anything, would depend on the outcome of that process.
• The company's own stated view is that the matter has no impact on its financials, operations or other activities. That is the company's assessment, not a concluded outcome.
• The figure to keep in mind is Rs 2,06,56,802/-, the size of the penalty demand, and Assessment Year 2024-25, the period it relates to.

Points to note

• The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• The company has said it will appeal before the appropriate Authority and is hopeful of a favourable outcome.

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