Madhya Bharat Agro Products Limited has informed the Exchange about Action(s) initiated or orders passed
MBAPL · price
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The company received a rectification order from the Assistant Commissioner of Income Tax dated April 15, 2026. Following a rectification application filed by the company in response to an earlier assessment order and demand notice of Rs. 7 crores, the Income Tax Department accepted the company's request. The error was rectified under Section 154 of the Income Tax Act, and the demand payable is now NIL. The order will not impact the company's financial position, operations, or business activities. No penalties or restrictions were imposed. The company has also filed a separate appeal before the Commissioner (Appeals) regarding reversal of MAT Credit, which it believes has strong merits.
Positive development for shareholders as the Rs. 7 crore tax demand has been eliminated, removing financial uncertainty. The company remains in appeal for MAT Credit reversal but expects a favorable outcome.