Transport Corporation of India Limited has received an assessment order under Section 143(3) of the Income Tax Act, 1961, along with a demand notice of ₹81.96 crore for Assessment Year 2024-25. The company disclosed this development under Regulation 30 of SEBI Listing Regulations on March 25, 2026.

Assessment Order Details

The assessment order was issued by the Assessment Unit of the Income Tax Department for Assessment Year 2024-25, covering Financial Year 2023-24. The company received the order via email on March 25, 2026, without receiving any prior show cause notice.

Nature of Demand

The demand notice amounts to ₹81,96,27,360 (Rupees Eighty-One Crore Ninety-Six Lakhs Twenty-Seven Thousand Three Hundred Sixty only), including applicable interest, issued under Section 156 of the Income Tax Act. The company emphasizes that the assessment order reflects no variation from the returned income.

Company's Position

Transport Corporation of India maintains that it has not committed any violation or contravention under the said order. The company states that while the assessment order shows no additions to the returned income, the demand raised by the department does not clearly indicate the basis for the computation or any corresponding additions.

Key points of the company's position include:

• No additions made to the returned income in the assessment order
• Basis for the demand computation not clearly stated by the department
• The computation appears to be a mistake apparent on record
• No prior show cause notice was received

Planned Course of Action

The company has outlined its strategy to challenge the demand notice:

Financial Impact Assessment

Transport Corporation of India has stated that there is no impact on the company's operations or financial activities. The company expressed confidence in its position, noting that it has strong legal and factual grounds to challenge the demand before the appropriate authority.

The disclosure was made pursuant to Regulation 30 read with sub-para 20 of Para A, Part A of Schedule III of the SEBI Listing Regulations, ensuring compliance with regulatory requirements for material developments affecting the company.

Bhoruka Supply Chain Solutions Holdings Limited, a promoter group entity, has acquired additional equity shares in Transport Corporation of India through an open market transaction. The company disclosed the purchase of 2,200 equity shares on March 23, 2026, under regulatory compliance requirements.

Transaction Details

The share acquisition was conducted through open market purchase, with the transaction date recorded as March 23, 2026. The disclosure was filed with both BSE Limited and National Stock Exchange of India Limited on March 25, 2026, in compliance with SEBI regulations.

Shareholding Pattern Changes

The acquisition resulted in a marginal increase in Bhoruka Supply Chain Solutions Holdings Limited's stake in Transport Corporation of India. The company's shareholding pattern before and after the transaction shows the following changes:

Regulatory Compliance

The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Bhoruka Supply Chain Solutions Holdings Limited is identified as belonging to the promoter group of Transport Corporation of India Limited.

Company Structure

Transport Corporation of India's equity share capital remains unchanged at INR 15,34,87,594, consisting of 7,67,43,797 equity shares of INR 2 each. The total diluted share capital also remains at the same level, indicating no outstanding convertible securities or warrants.

The disclosure was signed by Sudhir Kumar Agarwal, Director of Bhoruka Supply Chain Solutions Holdings Limited, and filed from the company's corporate office in Gurugram. The transaction represents a routine open market acquisition by the promoter group entity, maintaining their significant shareholding position in Transport Corporation of India.