Ador Welding Receives ₹13.69 Cr Tax Demand

Ador Welding received an income tax demand of ₹13,68,80,598 for AY 2023-24 under Section 143(3) read with Section 144B.
The Income Tax Department added ₹5,23,35,382 to the company's returned income, which the company disputes on legal and factual grounds.
A show cause notice under Section 274 read with Section 271AAC(1) for penalty proceedings was also received; no penalty levied yet.
Company believes the order will have no material financial impact and plans appeal before NFAC and rectification with Jurisdictional AO.