Authority and Order Details
Name of Authority: Income Tax Authority
Nature of Action: Assessment Order passed under section 143(3) read with section 144C(13) and section 144B of the Income Tax Act, 1961
Assessment Year: 2023-24
Date of Receipt of Communication: September 09, 2026 at 08:47 A.M.
Details of Violation/Contravention
The Company has received an assessment order with disallowances of certain expenditure, resulting in a tax demand of ₹29.82 Crores. This amount includes interest components.
Financial and Operational Impact
The disclosure explicitly states: "There is no material impact on the financial, operational, or other activities of the Company arising from this order." This assessment is based on the company's history with similar issues pertaining to previous years, which have already been decided in favor of the Company by higher courts.
Next Steps
The Company will be filing an appeal before the Income Tax Appellate Tribunal within the prescribed time limit.
#Tags: #HondaIndiaPowerProducts #IncomeTax #SEBIDisclosure #RegulatoryCompliance #TaxDispute