Quess Corp Limited has received a final income tax assessment order for Assessment Year 2022-23, resulting in a demand of ₹159.92 crore from the Income Tax Department. The company disclosed this development through a regulatory filing under SEBI Listing Regulations on February 01, 2026.

Assessment Order Details

The final assessment and demand orders were dated January 24, 2026, and received by the company on January 31, 2026 at 04:33 PM via email. The orders were issued by the Deputy Commissioner of Income Tax, Central Circle 2(1), under the provisions of Sections 143(3) read with Section 144C(13) and Section 156 of the Income Tax Act, 1961.

Nature of Disallowances

According to the company's preliminary review, the major disallowances in the assessment order relate to:

• Deduction under Section 80JAA of the Income Tax Act
• Disallowance of certain expenses claimed by the company

The assessment order follows a similar pattern to adjustments made in previous financial years from 2016-17 to 2020-21, against which the company is currently contesting before the Income Tax Tribunal.

Company's Response Strategy

Quess Corp has indicated its intention to challenge the assessment order through appropriate legal channels. The company's management stated that it reserves the right to file an appeal and intends to vigorously contest its position based on:

• Interpretative stance of relevant IT Act sections
• Judicial precedents supporting its position
• Strong legal advice and court decisions

The management emphasized that it believes its position is legally defensible and will take appropriate steps to challenge the assessment order with the appropriate forum. The company continues to rely on legal precedents and various court decisions to support its stance on the disputed matters.

Quess corp Limited has notified stock exchanges about the availability of its analyst call recording conducted on January 29, 2026. The company has uploaded the recording on its investor relations website as part of its regulatory disclosure obligations.

Regulatory Compliance

The notification was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates companies to disclose material events and information that could impact investor decisions.

Call Details and Accessibility

The analyst call was conducted through digital means on January 29, 2026. The company has made the recording accessible to investors and stakeholders through its official website.

Official Communication

The disclosure was signed by Kundan K Lal, Company Secretary and Compliance Officer, with membership number F8393. The digital signature was applied on January 29, 2026, at 18:01:23 +05'30'. The communication was addressed to both BSE Limited and National Stock Exchange of India Limited, ensuring compliance with dual listing requirements.

Company Information

Quest Corp Limited is headquartered at Quest Tower, Sky Walk Avenue, Bengaluru, Karnataka. The company maintains its investor relations portal to provide stakeholders with access to important corporate communications and financial disclosures.