Prism Johnson Limited has disclosed receiving an assessment order for the Financial Year 2024-25 from the Income Tax Department, dated March 29, 2026. The order raises a final tax demand of Rs. 28,23,82,920, primarily due to the disallowance of certain expenses during the scrutiny proceedings. The company disputes this demand, believing the expenses were allowable, and is currently preparing to file an appeal against the order.
Receipt of Income Tax Assessment Order
Prism Johnson Limited confirms that it has received an official assessment order under Section 143(3) of the Income Tax Act, 1961, pertaining to the Assessment Year 2024-25. The order was issued by the Deputy Commissioner of Income Tax, Central Circle 6(1), Mumbai, on March 29, 2026.
Financial Demand Details
As a result of the assessment, a tax demand under Section 156 of the Income Tax Act, 1961, has been raised against the company amounting to Rs. 28,23,82,920/-. This demand stems from the disallowance of certain expenses and other items encountered during the assessment proceedings.
Management Assessment and Next Steps
The company’s management is of the opinion that the demand is unwarranted, as the expenses disallowed should have been considered allowable by the Assessing authority. Consequently, Prism Johnson Limited is actively engaged in the process of preferring an appeal against this adverse order.
Impact Analysis
At this current juncture, the company does not anticipate any material impact arising from this tax order on its ongoing financials, operations, or other core business activities.
Source: BSE
