GSPL Receives Erroneous IT Demand ₹77.76 Cr

GSPL received an Income Tax scrutiny assessment order under Section 143(3) r.w. Section 144B for AY 2024-25 dated 23 March 2026.
IT department erroneously computed total income as ₹1,683 crore vs. assessed income of ₹1,435 crore, raising an erroneous demand of ₹77.76 crore including interest.
GSPL views this as a clerical error by the tax department and plans to file a rectification application with stay of demand before the Assessing Officer.
Company does not envisage any material financial implication and expects the demand to be nullified upon rectification processing.