MSTC Limited receives Notice of demand under section 156 of the Income Tax Act, 1961 from Income Tax Department, according to the regulatory filing.
The Income Tax Department has raised demand for the Assessment Year 2024-25 of an alleged sum of ₹178.40 crores, which includes interest of ₹27.85 crores under section 201(1)/201(1A) of the Income Tax Act, 1961.
The diversified e-commerce service provider plans to file an appeal challenging the order before an appropriate authority. “The demand is appealable and company will appeal against the demand before the appropriate authority,” said MSTC in their regulatory filing.
Source #ET
