Legal1 April 2026 at 04:21 pm
Ador Welding Ltd Receives Demand Notice from Income Tax Department for AY 2023-24
AI Summary
Ador Welding Ltd has received a notice of demand from the Income Tax Department, Ministry of Finance, Government of India, for an assessed income of AY 2023-24. The notice pertains to a sum of Rs. 13,68,80,598/- determined to be payable by the Company. The Company intends to pursue an appeal before National Faceless Appeal Centre (NFAC) and simultaneously, file a rectification application before Jurisdictional AO for computation errors. The Company also received a show cause notice (SCN) under Section 274 read with Section 271AAC(1) of the Income-tax Act, 1961 for initiation of penalty proceedings in connection with the assessment order.
Key Highlights
- Ador Welding Ltd received a notice of demand from the Income Tax Department for AY 2023-24.
- The notice pertains to a sum of Rs. 13,68,80,598/- determined to be payable by the Company.
- The Company intends to pursue an appeal before National Faceless Appeal Centre (NFAC) and simultaneously, file a rectification application before Jurisdictional AO for computation errors.
- The Company received a show cause notice (SCN) under Section 274 read with Section 271AAC(1) of the Income-tax Act, 1961 for initiation of penalty proceedings in connection with the assessment order.