Income Tax Demand of Rs. 29.47 Cr of TVS Srichakra Reduced to Rs. 3.11 Cr:

Income Tax Demand of Rs. 29.47 Cr of TVS Srichakra Reduced to Rs. 3.11 Cr The SEBI disclosure in respect of the previous Income Tax Demand Notice, dated 26 March 2026 by the Assessment Unit of the Income Tax Department was made by TVS Srichakra Ltd. The original order requested Rs 29,47,06,740 for FY 2027-18, Under section 14A of the Income Tax Act, 1961. Upon the presentation of the rectification application by the company, The deputy commissioner of the Income Tax made a rectification order dated 29 April 2026 through email on 7 May, 2026. This order sharply reduced the request to Rs 3,11,10,474. The company said it would further review the rectified order and take any necessary measures. Crucially, the company stated that this corrected order will, as far as it is concerned, have no significant effect on any financial position, operations or other activities it has undertaken. Further, TVS Srichakra has commenced an appeal that was initiated by TVS Srichakra to the Commissioner of Income Tax (Appeals) for relief and, in due course, before the Commissioner for Hearing of the complaint.