News Stocks Aptech Limited Receives ₹6.37 Crore Income Tax Demand Notice for Assessment Year 2024-25Aptech Limited Receives ₹6.37 Crore Income Tax Demand Notice for Assessment Year 2024-25
Aptech Limited has received an income tax assessment order under Section 143(3) with a demand notice of ₹6,36,92,990 for Assessment Year 2024-25. The demand arose due to computational omissions where certain deductions were inadvertently not given effect to in the assessment order. The company expects no financial impact and is filing a rectification application under Section 154 of the Income Tax Act to correct the computational error.
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Aptech Limited has informed stock exchanges about receiving an income tax assessment order with a demand notice of ₹6,36,92,990 for Assessment Year 2024-25. The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Assessment Order Details
The company received the assessment order under Section 143(3) of the Income Tax Act, 1961, along with the demand notice on February 10, 2026. The communication was received from the Income Tax Department as part of the regular assessment process.
| Parameter: | Details |
|---|---|
| Assessment Order: | Section 143(3) of Income Tax Act, 1961 |
| Demand Amount: | ₹6,36,92,990 |
| Assessment Year: | 2024-25 |
| Receipt Date: | February 10, 2026 |
| Authority: | Income Tax Department |
Nature of Demand
According to Aptech's disclosure, the demand has arisen due to computational omissions in the assessment process. The Income Tax Department had considered certain deductions claimed by the company while passing the order under Section 143(1). However, in the subsequent Section 143(3) order, certain deductions claimed by the company were inadvertently not given effect to, resulting in the demand notice.
The company emphasized that this appears to be a computational error rather than a substantive tax issue, as the deductions had already been claimed and considered during the assessment process.
Company's Response and Expected Impact
Aptech Limited has stated that it does not expect any financial impact from this demand, subject to rectification of the order. The company believes the demand is rectifiable and has indicated there is no material impact on its operations at this stage.
| Action Item: | Details |
|---|---|
| Rectification Application: | Filing under Section 154 of Income Tax Act, 1961 |
| Timeline: | Within prescribed timeline |
| Expected Outcome: | Correction of computational error |
| Financial Impact: | No impact expected |
Legal Steps and Future Course
The company is in the process of filing an application for rectification under Section 154 of the Income Tax Act, 1961. This provision allows for correction of mistakes apparent from the record. Aptech plans to take appropriate steps before the Income Tax Department within the prescribed timeline to correct the computational error.
The company has expressed confidence in its position, stating it has a strong case on merits and believes the demand is rectifiable. Aptech has committed to taking all necessary legal steps to safeguard its interests and will inform the stock exchanges of any material developments in the matter.
Regulatory Compliance
The disclosure was made pursuant to Regulation 30 read with sub-para 8, Para B, Part A, Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that no aberrations, non-compliances, penalties, restrictions, or sanctions were identified or imposed in the communication from the tax authorities.
Historical Stock Returns for Aptech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.26% | +13.26% | +3.72% | -28.13% | -39.07% | -41.28% |
