Max India Ltd has disclosed that its step-down wholly owned subsidiary, Antara Purukul Senior Living Limited, has received an income tax assessment order for FY2024-25, raising a demand of Rs. 31.53 crore. The company plans to challenge the order through rectification and appeal.
Max India Limited has formally notified the exchanges about the tax demand raised against its subsidiary. The order, issued under Section 143(3) of the Income Tax Act, 1961, has significant financial implications and is being contested by the company.
Regulatory Disclosure
The company informed BSE and NSE that Antara Purukul Senior Living Limited received the assessment order on March 24, 2026, from the Income Tax Department’s Assessment Unit. The demand pertains to the assessment year 2024-25.
Financial Implications
The order raises a tax demand of Rs. 31.53 crore. Max India has clarified that its subsidiary will file a rectification petition citing mistakes apparent from the record and subsequently appeal against the additions made.
Key Highlights
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Subsidiary: Antara Purukul Senior Living Limited
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Order under Section 143(3), Income Tax Act, 1961
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Tax demand: Rs. 31.53 crore for AY 2024-25
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Rectification petition and appeal to be filed
Sources: Company filing with BSE and NSE