MPS Limited Receives ₹9.11 Cr Income Tax Demand

MPS Limited received an Assessment Order u/s 143(3) and Demand Notice u/s 156 for AY 2024-25 from the Income Tax Department.
The tax demand totals ₹9,10,68,600, arising from additions/disallowances related to withholding tax and outstanding creditor balances.
MPS plans to file an appeal and a rectification application u/s 154, and does not expect material financial impact.