CRISIL Receives Re-assessment Order for AY 2017-18, Demand of ₹121.20 Crore Raised
CRISIL Limited received a re-assessment order for AY 2017-18 on March 23, 2026, raising a demand of ₹121.20 Crores. The order pertains to merged subsidiaries. CRISIL will file a rectification application and an appeal, stating no immediate financial or operational impact.
While the company states no immediate impact, a demand of ₹121.20 Crores and the subsequent legal process can have medium-term financial and operational implications if the appeal is unsuccessful.
The company has received a tax re-assessment order with a significant demand, which is a negative development, although the company plans to appeal and expects no immediate impact.
CRISIL Limited has received a re-assessment order under Section 147 of the Income Tax Act for the Assessment Year 2017-18, pertaining to its merged subsidiaries. The order was issued by the Income Tax Authority on March 23, 2026, for the Financial Year 2016-17.
The dispute arose because the Assessing Officer (AO) erroneously computed the tax, making unwarranted additions and failing to credit taxes already paid, despite the subsidiaries' income being merged with CRISIL Limited's income and tax already offered. This resulted in an incorrect demand order.
The company stated that there is no immediate impact on its financial, operational, or other activities. CRISIL Limited plans to file a rectification application and an appeal against the order. The demand raised in the order is ₹121.20 Crores.
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CRISIL Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. 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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