Physicswallah Limited has informed the Exchange about the receipt of assessment order under Income Tax Act, 1961
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Physicswallah Limited has informed the stock exchanges about receiving an assessment order and demand notice dated March 16, 2026, from the Income Tax Department under Section 143(3) of the Income-tax Act, 1961. The tax authority has treated investments received by the company during Assessment Year 2023-24 from investors, including a SEBI-registered Category II AIF, as taxable income, leading to a tax demand of Rs. 263.34 crore. The company has disclosed that this demand will not have any material impact on its financial position, operations, or business activities. Physicswallah plans to file an appeal before the appropriate appellate authority, citing strong legal and factual grounds. The company also acknowledged a delay in informing the exchanges, as it was evaluating the order with advisors.
While the Rs. 263.34 crore tax demand is sizeable, the company's claim that it will not materially impact financials should reassure investors. However, the outcome of the appeal remains a key watchpoint, and any adverse ruling could affect future earnings and cash flows.