Snowman Logistics Receives Rs 2.06 Crore Income Tax Demand for FY24, Plans to Challenge Penalty Order:

Snowman Logistics Ltd. has received a demand notice from the Income Tax Department relating to the financial year 2023-24 (Assessment Year 2024-25).

The company said it received the notice by email on October 2, 2026, from the Office of the Additional Commissioner of Income Tax, Central Circle 2(1), Mumbai. The demand amounts to Rs 2,06,56,802, and relates to a penalty imposed under Section 270A(13) of the Income Tax Act for alleged under-reporting of income.

Snowman Logistics said it does not believe the penalty order is sustainable. The company is taking steps to challenge the order by filing an appeal before the appropriate authority.

The company also said it expects a favourable outcome from the appellate process. Based on its assessment, Snowman Logistics currently believes that the demand will have no impact on its financial position, operations or other business activities.