Ventive Hospitality Limited disclosed receiving an Assessment Order from the Income Tax Department for FY 2023-24 (AY 2024-25). While the assessed income matches the reported income, the order contains a computation error, resulting in an erroneous tax demand of Rs. 6,37,96,318/-, inclusive of interest. The Company plans to file a Rectification Application under Section 154, expecting the demand to be nullified, confirming no impact on current operations.
Disclosure of Tax Assessment Order
Ventive Hospitality Limited has formally informed the stock exchanges regarding the receipt of an order from the Govt. of India, Ministry of Finance, Income Tax Department. The communication, dated March 11, 2026, was received by the Company on March 13, 2026, and pertains to the Assessment Order under Section 143(3) of the Income Tax Act, 1961.
Details of the Assessment and Demand
The Company noted that, as per the order, there is no change in the income assessed when compared to the income reported in the income tax return filed for the Financial Year 2023-24 (AY 2024-25). However, a significant error was identified within the computation of income forming part of the Assessment Order.
This computation error has resulted in an erroneous tax demand being raised on the Company amounting to Rs. 6,37,96,318/- (Rupees Six Crores Thirty Seven Lakhs Ninety Six Thousand Three Hundred and Eighteen Only), which includes applicable interest.
Company’s Rectification Plan and Impact Assessment
In response to this finding, Ventive Hospitality Limited confirms that it shall be filing a Rectification Application under Section 154 of the Income Tax Act, 1961, before the concerned Assessing Officer. The management expressed confidence that this erroneous demand shall be rectified and nullified at the earliest.
Crucially, the Company stated that the said Assessment Order has no impact on the financial position, operations, or any other activities of the Company, as the underlying income figures remain unchanged.
Source: BSE
