Kairosoft AI Solutions Limited has secured relief from the Delhi High Court, which quashed an income tax notice for Assessment Year 2016-17 on grounds of limitation. The court allowed the company's writ petition, setting aside earlier proceedings initiated by the Income Tax Department.

The order was passed on September 29, 2026, in W.P.(C) 15667/2025. The bench comprising Justice Dinesh Mehta and Dr. Justice Aditi Choudhary ruled that the notice issued under Section 148 of the Income Tax Act, 1961, was invalid. Consequently, the consequential order under Section 148A(d) dated August 30, 2024, was also set aside.

Court cites limitation bar

The petitioner argued that the reopening of assessment was barred by time, relying on the precedent set in Manju Somani v. Income Tax Officer. The respondents, represented by the Standing Counsel, did not dispute this legal position. As a result, the court disposed of the writ petition and the pending application without imposing any financial liability or penalty on the company.

What the numbers show

The dismissal of the case removes a contingent liability risk associated with the AY 2016-17 assessment. By quashing both the Section 148A(d) order and the Section 148 notice, the court has effectively closed the window for reassessment for this specific period, providing regulatory clarity and eliminating potential future litigation costs related to this old fiscal year.

Kairosoft AI Solutions Limited has closed its trading window for insiders effective October 1, 2026. The restriction applies to the un-audited standalone financial results for the quarter ending September 30, 2026.

The closure remains in effect until 48 hours after the declaration of these results. This action complies with SEBI (Prohibition of Insider Trading) Regulations, 2015, and associated circulars dated July 19, 2023, and April 21, 2025.

Trading restrictions and compliance

Insiders, designated persons, and their immediate relatives are prohibited from dealing in the company's securities during this period. Dealing includes buying, selling, or pledging shares. The company has formally intimated its designated persons regarding this closure to ensure adherence to the code of conduct for regulating trades.

Board meeting schedule

The date for the board meeting to consider the un-audited financial results for the quarter ending September 30, 2026, will be communicated separately. The filing was signed by Deva Ram, Director, on September 28, 2026.

The company operates with registered offices in Delhi and branch offices in Gurugram and Faridabad. The trading window closure is a standard procedural step prior to the release of quarterly financial performance data.