Clean Max Receives ₹6.78 Crore Income Tax Demand for AY 2023-24
Clean Max Enviro Energy Solutions Limited received an income tax demand of ₹6.78 Crore for AY 2023-24 from the Income Tax Department. The company disputes the demand and plans to appeal, expecting no material financial impact.
A tax demand of ₹6.78 Crore is significant, but the company's confidence in a successful appeal and its assessment of no material impact mitigates the immediate financial risk, leading to a medium impact.
The company received a tax demand, which is a negative event. However, the company is confident in its appeal and expects no material impact, balancing the negativity.
Clean Max Enviro Energy Solutions Limited has received an Assessment Order from the Assessment Unit of the Income Tax Department for Assessment Year 2023-24. The order, passed under Section 143(3) read with Section 144C(3) and Section 144B of the Income-tax Act, 1961, raises an income-tax demand of ₹6,77,99,430 (INR 6.78 Crore) due to certain additions and disallowances of expenditures.
The company received the communication on 27 April 2026. While the tax department has quantified the proposed demand, Clean Max Enviro Energy Solutions Limited is of the opinion that it has a strong case on merits and is confident of succeeding in getting these demands quashed at the appellate level. Consequently, the company believes there will be no material impact on its financials, operations, or other activities.
The company intends to file an appeal against the assessment order. This information is being provided in compliance with Regulation 30(13) of the SEBI Listing Regulations. The announcement will be made available on the company's website, www.cleanmax.com.
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Clean Max Enviro Energy Solutions Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Clean Max Enviro Energy Solutions Limited. Read the original for the full detail.