Pritika Auto Industries Receives ₹1.83 Crore Tax Demand for AY 2025-26
Pritika Auto Industries received a tax demand of ₹1.83 crore for AY 2025-26 from the Income Tax Department. The company disputes the demand, citing an error in calculating book profit, and plans to file for rectification and appeal. No material impact on financials or operations is expected.
The company has stated that there is no material impact on its financials, operations, or other activities due to this demand. Therefore, the impact is considered low.
The company has received a tax demand, which is a negative event. However, the company disputes the demand, believes it's due to a rectifiable error, and is taking action to resolve it. They also state there is no material impact, making the overall sentiment neutral.
Pritika Auto Industries Limited has received an intimation under Section 143(1) of the Income Tax Act, 1961, from the Centralized Processing Center, Income Tax Department. This intimation raises a demand of ₹1,83,81,330 for Assessment Year 2025-26, under Section 156 of the Income Tax Act, 1961.
The company received this communication via email on May 15, 2026, at 01:46 p.m. Pritika Auto Industries Limited states that there are no violations or contraventions committed by the company. They attribute the demand to a mistake in the order under Section 143(1), specifically an incorrect enhancement of book profit under Section 115JB due to depreciation. The company is confident that this apparent mistake will be rectified.
Pritika Auto Industries Limited is taking action by filing a rectification application under Section 154 of the Income Tax Act, 1961, with the Centralized Processing Center and intends to file an appeal before the Appellant Authority. The company anticipates that the demand will be deleted upon rectification. The management believes there will be no material impact on the company's financials, operations, or other activities due to this demand in the current financial year.
What to do with a filing like this
Pritika Auto Industries Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Pritika Auto Industries Limited. Read the original for the full detail.