Tax demand revised upward to Rs 31.13 crore via rectification order

Powerica Limited received a rectification order from the Income Tax Department on June 29, 2026, revising the earlier tax demand for Assessment Year 2025-26 from about Rs 30.28 crore to Rs 31.13 crore. The revision is due to TDS set-off adjustments under Section 154 of the Income Tax Act. The company states there is no material impact on its financials, operations, or activities. Powerica is reviewing the order and evaluating next steps, and had already filed a rectification application on June 17, 2026 against the earlier order.