Company receives Rectification Order under Section 154 of the Income-tax Act; net Rs. 22,15,080 payable

Valiant Organics has received a Rectification Order dated July 8, 2026, passed under Section 154 of the Income-tax Act, 1961 for Assessment Year 2015-16, in the name of erstwhile Amarjyot Chemical Limited.

Thu 1 Oct 2026

Net amount payable under order

Rs. 22,15,080/-

Refund issued earlier not considered

Rs. 6,65,470/-

Assessment Year

2015-16

Rectification order date

July 8, 2026

Penalty/restriction/sanction

No penalty, restriction or sanction imposed

What was received

• The company has received a Rectification Order dated July 8, 2026, passed under Section 154 of the Income-tax Act, 1961 by the Centralized Processing Centre, Income Tax Department, Bengaluru.
• It relates to Assessment Year 2015-16 and has been issued in the name of erstwhile Amarjyot Chemical Limited, which was amalgamated with and into the company pursuant to a Scheme of Amalgamation effective April 19, 2019. The order therefore pertains to a period prior to the amalgamation.

Amounts stated in the order

• Net amount payable: Rs. 22,15,080/-.
• The order refers to an earlier rectification order dated March 31, 2026. As recorded in the present order, a refund of Rs. 6,65,470/- issued earlier was not considered, and an incorrect addition had been made to the total income due to technical issues. The present order rectifies that computation and determines the net amount payable of Rs. 22,15,080/-.
• No penalty, restriction or sanction has been imposed under the order.

Why it was passed

• The order has been passed for rectification of a mistake apparent from the record. No separate violation or contravention has been alleged under it.

What the company says

• The company is examining the order and will take such appropriate steps as may be advised.
• On financial implications, it states that the order determines the net amount payable of Rs. 22,15,080/- and that the financial implication, if any, will be dealt with appropriately. It also states that no material impact on the operations or other activities of the company is expected.
• Any material development or update will be reported under Regulation 30, including through the quarterly Integrated update (Governance) under "Disclosure of Updates to Ongoing Tax Litigations or Disputes", as applicable.

How the intimation was timed

• The company states that it had not received any formal email communication in relation to the order and that the same could not be traced or accessed on the Income-tax e-update portal at the relevant time.
• It became aware of the order on receipt of the physical copy on October 01, 2026 and, upon receipt and verification, is making this disclosure promptly.

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