The company has received a Rectification order u/s 154 of Income Tax Act, 1961. The company hereby disclose the same.
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Khemani Distributors & Marketing Ltd received a Rectification Order from the Income Tax Department on 20th September 2025, covering two assessment years (AY 2021-22 and AY 2022-23). The order corrects an earlier mistake where brought-forward losses had been erroneously allowed, even though the company's tax returns for those years were filed after the due date under Section 139(1). The company has stated that there is no impact on its financials, operations, or other activities. The company also acknowledged a delay in disclosing this event within SEBI's 24-hour timeline and assured corrective measures to prevent recurrence.
The company claims no financial or operational impact, but the rectification removes a previously claimed tax benefit (brought-forward loss), which could increase future tax outgo if contested positions arise. The delayed disclosure is a minor governance red flag, though the company has committed to better compliance going forward.