Prataap Snacks Limited has informed the Exchange about Action(s) initiated or orders passed
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Prataap Snacks Limited has received an Assessment Order dated March 26, 2026 from the Income Tax Department's Faceless Assessment Unit, along with a Notice of Demand under Section 156 of the Income Tax Act. The total tax demand including interest amounts to Rs. 15,36,16,600 (approximately Rs. 15.36 crore). The demand arose from certain additions and disallowances made during scrutiny assessment for Assessment Year 2024-25. The company received the order on March 27, 2026. The company has stated it will file an appeal before Higher Appellate Authorities and believes it has adequate factual and legal grounds to challenge the demand. The disclosure was delayed inadvertently.
A tax demand of Rs. 15.36 crore creates financial uncertainty, though the company claims no impact on operations as it plans to appeal. The demand could affect cash flows if not reversed on appeal.