Transport Corporation of India Limited has informed the Exchange about Action(s) initiated or orders passed
TCI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Transport Corporation of India (TCI) received an income tax assessment order under Section 143(3) read with Section 144B of the Income Tax Act for Assessment Year 2024-25 (FY 2023-24) on March 25, 2026. Along with the order, the Income Tax Department issued a demand notice of ₹81.96 crores (including interest) under Section 156, without any prior show cause notice. Importantly, the assessment order itself reflects no additions to the company's returned income, and the company views the demand as a mistake apparent on record. TCI plans to file a rectification application before the Jurisdictional Assessing Officer and an appeal before the appropriate authority, stating it has strong legal and factual grounds to challenge the demand.
Although the ₹81.96 crore demand figure is sizeable, the absence of any actual additions to returned income and the company's intent to appeal may limit the long-term financial impact. Short-term sentiment could be mildly negative as investors digest the headline number, but the company's confidence in overturning the demand tempers the concern. Shareholders should watch for updates on the appeal outcome.