Minda Corporation Limited has informed the Exchange about receipt of an Assessment order under Section 143(3) of the Income Tax Act, 1961 dated March 28, 2026 from the Office of the Assistant Commissioner of Income Tax, Central Circle-13, Delhi
MINDACORP · price
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Minda Corporation has received an Income Tax Assessment Order for Assessment Year 2023-24 from the Office of the Assistant Commissioner of Income Tax, Central Circle-13, Delhi. The order includes certain additions and disallowances to the company's declared income, resulting in a total demand of ₹67.09 crore, which includes interest of ₹17.76 crore (tax demand of approximately ₹49.33 crore). The company is reviewing the order with its tax and legal advisors and plans to contest it before appellate authorities. The company has stated there is no impact on its financial, operational, or other activities due to this order.
While the company maintains the tax demand has no operational impact, a ₹67 crore demand is material and could affect cash flows if upheld. The stock may see mild negative sentiment; however, since the company intends to appeal and has not booked the liability, the longer-term impact depends on the outcome of the appellate process.