Brainbees Solutions Limited announced a major favorable revision in its income tax liability for Assessment Year (AY) 2022-23. Following a rectification order from the Income Tax Department, the initial demand of Rs. 31.36 crore has been drastically reduced. The recomputed total income has led to a revised demand of only Rs. 38.37 lakh, representing a reduction of over Rs. 30.97 crore. The company affirms its commitment to high governance standards and plans to file an appeal with the ITAT.
Income Tax Demand Revision Announced
Brainbees Solutions Limited has issued an important update regarding tax assessments for Assessment Year (AY) 2022-23. This announcement follows an earlier intimation dated January 31, 2026, where the company disclosed an assessment order and a demand notice totaling Rs. 31,36,30,330/-. This initial demand arose from an addition of Rs. 93,57,99,520/- to the company’s total income for that fiscal period.
Favorable Rectification Order Received
The company confirms that, based on its application and subsequent verification by the Authority, it has received a rectification order and a demand notice. The impact is substantial: the total income for AY 2022-23 has been recomputed to just Rs. 52,54,110/-. Consequently, the demand has been drastically reduced from the original Rs. 31,36,30,330/- to Rs. 38,37,210/-. This represents a net reduction in the demand amount of Rs. 30,97,93,120/-.
Future Compliance Actions
Brainbees Solutions Limited stated its intention to file an appeal before the Hon’ble Income Tax Appellate Tribunal (ITAT) in due course. The management emphasized that the company consistently maintains high standards of integrity, corporate governance, and compliance in all operations, including the prompt payment of taxes. The company remains committed to upholding these standards moving forward.
Source: BSE
