Mahadhan AgriTech Limited (MAL), a wholly-owned subsidiary of Deepak Fertilisers, has received a demand order from Income Tax Authorities for ₹19,58,00,391. The demand pertains to assessment year 2022-23 under section 170A of the Income Tax Act. MAL believes the demand is not tenable and plans to challenge it.
Income Tax Demand Notice
Deepak Fertilisers announced that its subsidiary, Mahadhan AgriTech Limited (MAL), received a demand order from the Income Tax Authorities on December 25, 2025, at approximately 05:32 PM. The notice involves a demand for ₹19,58,00,391.
Details of the Demand
The demand order was issued under section 170A of the Income Tax Act, 1961, for the assessment year 2022-23. The assessing officer (AO) made certain disallowances while passing the order. However, MAL contends that these disallowances were previously deleted by ITAT in earlier years and supported by other judicial pronouncements.
Company’s Response
MAL believes that the demand is not justifiable and intends to challenge the order through appropriate legal channels. The company will be challenging the aforementioned order at an appropriate forum, expecting it to be set aside in the appellate forum. The company believes that this tax demand has no material impact on the financials.
Source: BSE