Nature of the Event

Regulatory disclosure regarding receipt of an intimation and tax demand notice from the Income Tax Department.

Key Quantitative Figures

The Income Tax Department has raised a tax demand aggregating to ₹2,82,29,180 (Rupees Two Crore Eighty-Two Lakh Twenty-Nine Thousand One Hundred Eighty Only).

Parties Involved

  • Issuing Authority: Centralized Processing Center (CPC), Income Tax Department, Bengaluru – 560500
  • Recipient: Monika Alcobev Limited

Purpose/Rationale

The intimation under Section 143(1) of the Income Tax Act, 1961 processes the income tax return filed by the company for AY 2025-26. The demand arose due to:

  • Variation in computation of tax liability under Section 115BAA
  • Recomputation of interest and fee under Sections 234A, 234B, 234C and 234F of the Income Tax Act, 1961
  • Tax credit mismatches relating to TDS/TCS and self-assessment tax as reflected in Form 26AS/system records compared to the return filed

Financial Impact

As per the disclosure: "To the extent of the said demand, there is no material impact on the financials of the Company. Further, there is no impact on the operations or other activities of the Company in the current financial year on account of the aforesaid demand for the said AY."

Intended Actions

The company is reviewing the intimation/order and intends to file appeal proceedings against the demand before the appropriate authority within the prescribed timelines.

Additional Details

  • No penalties or restrictions were imposed pursuant to the communication
  • The communication mentions mismatch in tax credits claimed and allowed, including mismatch in TDS/TCS credits and minor mismatch in self-assessment tax challan details