Key Details of Communication Received
- Type of Communication: Rectification order
- Date of Receipt: October 14, 2026 at 7:51 P.M.
- Issuing Authority: Assistant Commissioner of Income Tax, Mumbai
- Assessment Year: 2024
- Reference: Follows previous intimation dated March 28, 2025 regarding order under Section 143(3) of Income Tax Act
Material Contents of Communication
The Authority has rectified an order that:
- Seeks incremental interest of ₹40,96,103 on refund already issued
- Reduces the original tax demand
Financial Implications
- Tax: ₹215,56,50,475 (Reduced tax demand)
- Interest: ₹63,33,27,980 (Includes incremental interest of ₹40,96,103)
- Penalty: Nil
- Total Financial Impact: ₹278,89,78,455
Company Assessment
The company states there is "no adverse material impact on the financial operations of the Company" from this order.
Compliance Status
No aberrations/non-compliances identified beyond the details mentioned in serial number 5 of the annexure.
Penalties and Restrictions
No penalty or restriction or sanction imposed pursuant to the communication.
Company Action Taken
The Company has filed an appeal against the said order before the appropriate authority.
Certification
The company declares that the information provided is true, correct and complete to the best of their knowledge and belief.
Distribution
Copy marked to Axis Trustee Services Limited.