Epigral Receives ₹28.11 Crore Income Tax Demand

Details of the Action

• Issuing Authority: Deputy Commissioner of Income Tax, Circle 2(1)(1), Vadodara
• Nature of Action: Assessment order for Assessment Year 2023-24 (pertaining to Financial Year 2022-23)
• Demand Amount: ₹28.11 crore (including applicable interest)
• Date of Receipt: October 28, 2026
• Legal Basis: Assessment Order passed under section 143(3) read with section 144C(13) of the Income-tax Act, 1961, along with notice of demand under section 156 of the Income-tax Act, 1961

Financial Impact Assessment

The company explicitly states: "There is no financial impact on the financials, operations or other activities of the Company on account of the aforementioned order." The disclosure characterizes the assessment order as being "in ordinary course of assessment proceedings."

Company's Position and Next Steps

The company believes the consequent demand is "not maintainable" and has "adequate factual and legal grounds to reasonably and technically substantiate its position in the matter." Epigral is in the process of filing both a rectification application and an appeal against the order within prescribed timelines.