Receipt of Demand Notice and Assessment Order from Income Tax Department
Awaiting price reaction for this filing.
Classic Filaments Ltd has received a demand notice of ₹1.98 Crore from the Income Tax Department, Surat, along with an assessment order under Sections 147, 263, and 144B of the Income Tax Act, 1961. The notice was received on March 06, 2026, and the company is taking steps to respond within the stipulated time. This is a continuation of a previous disclosure made on October 28, 2026, suggesting an ongoing tax matter. The company has stated that the financial impact cannot be quantified as of now and depends on the outcome of further proceedings and any appeal to higher authorities.
A tax demand of ₹1.98 Crore is a material amount for a small-cap company like Classic Filaments and could pressure its financials if upheld after appeal. Investors should watch for updates on the company's response and appeal outcome, as the final liability remains uncertain.