PARKHOTELS Receives ₹41.07 Crore Tax Demand Order for AY 2024-25
PARKHOTELS received a tax demand order of ₹41.07 crore for AY 2024-25 from the Income Tax Department. The company is filing an appeal and does not expect a material impact on its operations.
The tax demand is significant at ₹41.07 crore. While the company expects no material impact, the pending appeal and the initial demand warrant a medium impact assessment.
The company has received a tax demand order, which is a negative event. However, the company plans to appeal and believes it has strong grounds, expecting no material impact, which mitigates the negativity.
Apeejay Surrendra Park Hotels Limited (PARKHOTELS) has been issued an Assessment Order by the Income Tax Department, Assessment Unit (Faceless Assessment) under Section 143(3) read with Section 260 and Section 144B of the Income-tax Act, 1961. This order pertains to the scrutiny assessment for Assessment Year 2024-25 and results in a tax demand of ₹41,06,72,530/-, inclusive of applicable interest.
The tax demand arises from certain additions/disallowances made under various provisions of the Income-tax Act, 1961, including Sections 37(1), 40(a)(ia), 68, 69C, and 35D, during the assessment proceedings.
The company received the order on July 1, 2026. PARKHOTELS is currently in the process of filing an appeal before the appropriate Appellate Forum/National Faceless Appeal Centre (NFAC) within the prescribed timelines. The management believes it has strong grounds to substantiate its position and expects a significant portion of the demand to be reduced upon appeal. Consequently, the company does not anticipate any material impact on its financial, operational, or other activities due to this order.
What to do with a filing like this
Apeejay Surrendra Park Hotels 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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