NewsMusic Broadcast Limited Receives Income Tax Demand Order of ₹8,71,476 for Assessment Year 2019-20Music Broadcast Limited Receives Income Tax Demand Order of ₹8,71,476 for Assessment Year 2019-20
Music Broadcast Limited received an income tax demand order of ₹8,71,476 for Assessment Year 2019-20 from Assistant Commissioner of Income Tax, Mumbai. The order dated March 27, 2026, was issued under Section 154 read with Section 155 (18) of Income-Tax Act, 1961. The company disclosed this to stock exchanges under Regulation 30 and stated it will evaluate next steps with advisors, with financial impact limited to the demand amount.
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Music Broadcast Limited has received an income tax demand order of ₹8,71,476 for Assessment Year 2019-20 from the Assistant Commissioner of Income Tax. The company disclosed this information to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Tax Demand Details
The demand order was issued under Section 154 read with Section 155 (18) of the Income-Tax Act, 1961. The order carries significant administrative details that the company has formally communicated to both NSE and BSE.
| Parameter | Details |
|---|---|
| Issuing Authority | Asst. Commissioner of Income Tax – 14(1)(1), Mumbai |
| Order Date | March 27, 2026 |
| Receipt Date | April 13, 2026 (via email) |
| Demand Amount | ₹8,71,476 |
| Assessment Year | 2019-20 |
| Legal Provision | Section 154 read with Section 155 (18) of Income-Tax Act, 1961 |
Regulatory Compliance
Music Broadcast Limited has fulfilled its disclosure obligations by informing stock exchanges about this development. The disclosure was made in compliance with SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated February 25, 2025.
Company's Response
The company has indicated that it will evaluate the next course of action in consultation with its advisors. Music Broadcast Limited stated that the financial impact is limited to the amount of demand specified in the order. The company has committed to providing updates on the matter in due course as developments unfold.
Financial Impact Assessment
According to the company's disclosure, the impact on financial, operational, or other activities is quantifiable and limited to the demand amount of ₹8,71,476. This represents the maximum potential financial exposure from this particular tax assessment for Assessment Year 2019-20.
Historical Stock Returns for Music Broadcast
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.66% | -1.92% | +32.68% | -25.33% | -38.08% | -73.91% |
Will Music Broadcast Limited challenge this tax demand through appeal proceedings, and what are the potential costs and timeline for such legal action?
Could this tax assessment indicate broader scrutiny from income tax authorities on Music Broadcast's other assessment years?
How might this tax demand and potential future assessments impact Music Broadcast's cash flow and dividend distribution plans?
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