Clean Max Subsidiary Wins Income Tax Appeal After NFAC Deleted 654.45 Million Tax Demand :

Surya Energy Photovoltaic India Private Limited, a wholly owned subsidiary of Clean Max Enviro Energy Solutions Limited, has received an order from the National Faceless Appeal Centre (NFAC)-Commissioner of Income Tax (Appeals) [CIT(A)] (appellate authority), passed on November 02, 2026, under Section 250 of the Income Tax Act, 1961.

The order pertains to the Assessment Year 2022-23. The Prospectus of the company issued on February 25, 2025, had reflected that Surya Energy, the subsidiary, had filed an appeal before the first appellate authority, NFAC, challenging an assessment order dated February 25, 2025, for the AY 2022-23. The said order had made an addition amounting to Rs 621.52 million to Surya Energy's taxable income, resulting in a total tax liability of Rs 654.45 million for the company.

Along with this, the tax authorities had also begun penalty proceedings against Surya Energy under Section 274 read with Section 271AAC(1) of the Income Tax Act. For a temporary period, the Principal Commissioner of Income Tax (PCIT), Bengaluru-1 had stayed the aforementioned demand vide an order issued on September 11, 2026, until December 30, 2026. Thereafter, on November 02, 2026, the Office of the Commissioner of Income-tax (Appeals) [CIT(A)], Income Tax Department, National Faceless Appeal Centre (NFAC), Delhi, deleted the impugned additions vide an appellate order.

The aforementioned disclosure has been made by Clean Max Enviro Energy Solutions Limited (formerly known as Clean Max Enviro Energy Solutions Private vide an Intimation dated November 03, 2026, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.