MPS Limited has informed the Exchange about Disclosure u/r Regulation 30 of SEBI Listing Regulations, w.r.t. Assessment Order/Demand Notice under the Income-tax Act, 1961, for the Assessment Year 2024 25.
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MPS Limited has received an Assessment Order from the Income Tax Department for Assessment Year 2024-25, raising a tax demand of approximately ₹9.11 crore. The demand stems from scrutiny assessment where the department made additions on differences in interpretation of certain withholding tax transactions and outstanding creditor balances. The order was dated 23 March 2026 and received by the company on 24 March 2026. The company plans to file an appeal and a rectification application under Section 154 of the Income-tax Act within the prescribed timelines. Management has stated it believes it has strong factual grounds to contest the demand and does not expect any material impact on its financial position or operations. The disclosure itself was filed late, which the company described as inadvertent and unintentional.
The ₹9.11 crore tax demand is modest relative to a company's earnings profile, and management's confident stance on contesting it should limit near-term concerns. Investors should watch for updates on the appeal outcome, as an adverse ruling could become a material negative, while a favourable resolution would remove the overhang.