Expleo Solutions Limited has received an order from the Assistant Commissioner of Income Tax, Corporate Circle 1(1), Chennai, raising a demand of Rs.2.16 crore for Assessment Year 2016-17. The demand stems from disallowance of MAT Credit utilization of Rs.80 lakh. The company reports no material impact.
Expleo Solutions Limited has formally disclosed receipt of an order from the Assistant Commissioner of Income Tax, Corporate Circle 1(1), Chennai. The order pertains to Assessment Year 2016-17 and raises a demand of Rs.2,16,77,078. The demand arises due to disallowance of Minimum Alternate Tax (MAT) Credit utilized amounting to Rs.80,00,000.
Key Highlights
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Order issued under Section 154 read with Section 143(3) on 20 January 2026, intimated on 21 January 2026, and received by the company on 23 January 2026
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Demand raised specifically for Assessment Year 2016-17, linked to MAT Credit disallowance
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Total demand quantified at Rs.2.16 crore, with Rs.80 lakh MAT Credit disallowed
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Company clarifies that there is no material impact on its financials, operations, or other activities despite the raised demand
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Disclosure made in compliance with regulatory requirements to maintain transparency with stakeholders
Sources: Expleo Solutions Limited regulatory filing, National Stock Exchange (NSE) announcement, Bombay Stock Exchange (BSE) disclosure