Auto components maker Spark Minda on Sunday said it has received an assessment order from the Income Tax Department raising a total demand of ₹670.91 million (₹67.09 crore), including interest of ₹177.59 million (₹17.76 crore), for Assessment Year 2023–24.
In a regulatory filing, the company said the assessment order was issued under Section 143(3) of the Income Tax Act, 1961, by the Office of the Assistant Commissioner of Income Tax, Central Circle-13, Delhi.
The order, dated March 28, 2026, includes certain additions and disallowances to the income returned by Spark Minda in its income tax return, resulting in the demand.
The company said it is currently reviewing the assessment order in consultation with its tax and legal advisors and intends to contest the matter before the appropriate appellate authorities.
Spark Minda added that the order will not have any impact on its financial, operational or other activities.
“There is no impact on financial, operation or other activities of the company due to this assessment order,” it said.
Source from: https://auto.economictimes.indiatimes.com/news/auto-components/spark-minda-faces-6709-crore-income-tax-demand-for-fy24/129890052
