Clean Max Enviro Energy Solutions Limited announced that its wholly-owned subsidiary, Surya Energy Photo Voltaic India Private Limited, has successfully appealed an income tax assessment order. The National Faceless Appeal Centre (NFAC) deleted additions totaling ₹621.52 million and a tax liability of ₹654.45 million for Assessment Year 2022-23. This favourable order indicates no adverse financial implications and removes previously contested tax demands.
Key Tax Appeal Success for Subsidiary
Clean Max Enviro Energy Solutions Limited has disclosed a significant positive development concerning its wholly-owned subsidiary, Surya Energy Photo Voltaic India Private Limited. The subsidiary has received an appellate order dated 2 November 2026 from the National Faceless Appeal Centre (NFAC) – Commissioner of Income-tax (Appeals) – for Assessment Year (AY) 2022-23. This order effectively deletes the previously proposed additions to Surya Energy’s total income.
Details of the Appeal
Surya Energy had filed an appeal against an assessment order dated 25 February 2025. This original order had proposed an addition of ₹621.52 million to its total income, leading to a potential tax liability of ₹654.45 million, alongside initiation of penalty proceedings. A stay on this demand was granted until 30 December 2026.
Outcome of the Appellate Order
The NFAC, acting as the Commissioner of Income-tax (Appeals), has now passed an order on 2 November 2026, deleting the aforementioned additions. The subsidiary, Surya Energy, is reported to have discharged its onus under Sections 68 and 69 of the Income Tax Act. Consequently, there are no adverse financial implications for the listed company or its subsidiary, as the additions aggregating to INR 62,15,11,748 have been deleted, and the tax/penalty/fine/interest demanded is Nil.
Company’s Next Steps
The listed company, Clean Max Enviro Energy Solutions Limited, will await the order giving effect to the appellate outcome from the Assessing Officer. The company will evaluate further actions, including those related to any penalty proceedings, in consultation with its tax advisors. The original appeal was instituted on 26 March 2025.
Source: BSE
