Income Tax: Diligent Media Gets Updated Tax Order in Continuation of Earlier Rs 41 Crore Demand:

Income Tax: Diligent Media Gets Updated Tax Order in Continuation of Earlier Rs 41 Crore Demand Diligent Media Corporation Ltd, an Indian Company engaged in the printing and publication of newspapers, magazines, etc., has recently informed the stock exchanges, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), regarding an update to a previous intimation dated March 26, 2024. The company has been informed that it has received an order dated 14.07.2025 from the Office of the Deputy Commissioner of Income Tax Circle 6(1)(1), Mumbai.

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The Income Tax Department claims in the previous order dated 22.03.2024 that the company did not include Long-Term Capital Gains (LTCG) while calculating Minimum Alternate Tax (MAT). Due to this, the tax authority has demanded Rs 41,34,44,563 for AY 2013-14. The company had challenged this order by filing an appeal with the CIT(A) and is waiting for its adjudication. On July 14, 2025, Diligent Media received another order from the Income Tax Department in continuation of the above-mentioned order. In the latest order dated 14.07.2025, the income tax department has ordered the company to pay 20% (around Rs 8.27 crore) of the said demand. If the company does not pay this required amount, the income tax department might take strict action.

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The company is looking for legal options and plans to apply to the tax authorities for a stay on the payment demand. The company will file an appeal for the same. The company has stated that there is currently no financial impact until the appeal is decided.