The Company has received Notice of Demand from Centralized Processing Center, Income Tax Department, Bengaluru
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Monika Alcobev Limited has received an intimation under Section 143(1) and a Notice of Demand under Section 156 of the Income Tax Act, 1961 from the Centralized Processing Center, Income Tax Department, Bengaluru. A tax demand of Rs. 2,82,29,180 (approximately Rs. 2.82 crore) has been raised for Assessment Year 2025-26. The demand arose due to variations in tax liability computation under Section 115BAA, recomputation of interest and fees under Sections 234A, 234B, 234C and 234F, and tax credit mismatches in TDS/TCS and self-assessment tax. The company states there is no material impact on its financials or operations and intends to file appeal proceedings against the demand before the appropriate authority within prescribed timelines.
The tax demand of Rs. 2.82 crore could create a liability, but the company claims no material financial impact. The actual impact will depend on the outcome of the planned appeal. This is a routine tax processing dispute common for listed companies and does not indicate any fundamental business deterioration.