We hereby submit the disclosure regarding the Order passed by the Income Tax Department against the Company under section 41 of the Income tax Act,1961.
AEROFLEX · price
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Aeroflex Industries has received an order from the Income Tax Department's Assessment Unit raising a demand of Rs. 41,75,88,940 (approximately Rs. 41.76 crore). The demand relates to the disallowance of the company's claim that a waiver of interest on a working capital loan under a one-time settlement was non-taxable under Section 41 of the Income Tax Act, 1961, pertaining to assessment year 2018-19. The order under Section 147 read with Section 144B was received by the company on March 25, 2026 at 10:17 PM via email. The disclosure was filed on March 27, 2026, with a delay beyond SEBI's 24-hour timeline, which the company attributed to a festival holiday on March 26.
The company intends to appeal the order before the Appellate Authority and is hopeful of a favorable outcome, stating it does not expect any material financial impact. However, the Rs. 41.76 crore demand is significant and represents an ongoing tax dispute that investors should monitor; an unfavorable appeal outcome could affect financials.