Key Quantitative Figures
The Notice of Demand under Section 156 of the Income Tax Act, 1961, is for an aggregate amount of ₹60,49,80,790 (Rupees Sixty Crore Forty-Nine Lakh Eighty Thousand Seven Hundred Ninety Only) for Assessment Year 2024-25.
Dates of Action
The Notice of Demand is dated June 20, 2026. It was received by the company in the ordinary course but was brought to the attention of concerned officials on June 29, 2026. The regulatory disclosure was filed with BSE on June 30, 2026.
Parties Involved
The demand was issued by the Assessment Unit of the Income Tax Department. The disclosure was signed and submitted by Mrugesh Ashwin Kumar Vyas, Company Secretary and Compliance Officer (Membership No: ACS: 49190).
Purpose and Rationale
The disclosure is a mandatory regulatory filing pursuant to SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
Financial Impact
The company has stated that it believes the demand is not maintainable and is in the process of preferring an appeal against the order before the Commissioner of Income Tax (Appeals). Consequently, the company asserts there is no impact on its operations or other activities. The financial impact is stated to be limited to the extent of the Income Tax on the subject contribution and interest thereon, but this is contingent on the outcome of the appeal.
Reason for Delayed Submission
The disclosure was not submitted within the required 24 hours due to internal administrative routing, processing requirements, and customary procedural formalities. The company clarifies that the delay was purely administrative, inadvertent, without any mala fide intent, and is not likely to cause prejudice to any stakeholder or authority.
Additional Information
The intimation has also been uploaded on the company's website at www.tihil.co.in.