News Stocks Amines & Plasticizers Limited Receives Income Tax Show Cause Notices for Three Assessment YearsAmines & Plasticizers Limited Receives Income Tax Show Cause Notices for Three Assessment Years
Amines & Plasticizers Limited received show cause notices from the Income Tax Department for assessment years 2013-14, 2014-15, and 2015-16 regarding commission payments to selling agents. The notices involve potential disallowances totaling Rs. 9,57,56,643 across the three years. The company has contested the notices with documentary evidence and does not expect material financial impact based on legal counsel advice.
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Amines & Plasticizers Limited has received show cause notices from the Income Tax Department under Section 147 of the Income Tax Act for three assessment years. The notices, dated February 23, 2026, pertain to commission payments made to selling agents during the assessment years 2013-14, 2014-15, and 2015-16.
Show Cause Notice Details
The company received three separate notices from the Income Tax Department, Office of the Income Tax Officer, Assessment Unit:
| Assessment Year | Notice Number | Receipt Date & Time |
|---|---|---|
| 2013-14 | ITBA/AST/F/147(SCN)/2025-26/1086422002(1) | February 24, 2026 12:01 AM |
| 2014-15 | ITBA/AST/F/147(SCN)/2025-26/1086422114(1) | February 23, 2026 08:50 PM |
| 2015-16 | ITBA/AST/F/147(SCN)/2025-26/1086422156(1) | February 23, 2026 08:33 PM |
The notices were received through email and relate to commission payments made to selling agents during the respective assessment years. The Income Tax Department has requested the company to submit response including documentary evidence regarding the genuineness of these transactions.
Financial Implications
The show cause notices mention potential disallowances for each assessment year:
| Assessment Year | Potential Disallowance |
|---|---|
| 2013-14 (FY 2012-13) | Rs. 2,37,28,300 |
| 2014-15 (FY 2013-14) | Rs. 4,07,31,500 |
| 2015-16 (FY 2014-15) | Rs. 3,12,96,843 |
The company has clarified that these amounts represent only disallowance of expenditure and not the actual financial impact. The actual financial implications will depend on the outcome based on the representation to be made by the company.
Company's Response and Position
Amines & Plasticizers Limited has taken the following actions in response to the notices:
- Sought legal advice to evaluate the merit of the show cause notices
- Contested the notices with documentary evidence in support
- Submitted the response on February 27, 2026
Based on preliminary assessment, prevailing law, and advice from legal counsel, the company does not foresee any material impact on its financial, operational, or other activities. The company has stated that no aberrations, non-compliances, penalties, restrictions, or sanctions have been imposed pursuant to the communication.
Regulatory Compliance
The disclosure has been made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company explained the delay in reporting by stating that the notices were received late in the evening on February 23, 2026, and one was received at 12:01 AM on February 24, 2026, necessitating time to seek legal advice before making the disclosure.
The company has indicated that it will update the stock exchanges on the outcome of the assessment proceedings as they develop.
Historical Stock Returns for Amines & Plasticizers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.90% | -5.48% | -11.13% | -30.68% | -28.14% | -3.29% |
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