PNGJL Receives Income Tax Demands ₹6.55 Crore

P N Gadgil Jewellers received income tax assessment orders for AY 2021-22, 2022-23, and 2023-24 from Deputy Commissioner of Income Tax, Pune.
Total tax demand aggregates ₹6.55 crore (₹2.26 cr + ₹2.29 cr + ₹2.00 cr) citing royalty deduction disallowances and additions under Sections 69A, 40(a), and 37.
Company intends to appeal all three orders and does not expect any material financial impact based on its internal assessment.