Epigral receives ₹28 crore income tax demand for AY 2023-24

Legal

Blacklitt Research29 October 20262 min read

A wooden gavel resting on a closed book. — Photo by Sasun Bughdaryan on Unsplash (Unsplash License). Illustrative image.

Epigral (NSE: EPIGRAL) has received an assessment order and a notice of demand of ₹28.11 crore, including applicable interest, from the Deputy Commissioner of Income Tax, Vadodara, it said in a filing on 29 Oct 2026. The order covers Assessment Year 2023-24, which relates to Financial Year 2022-23.

Key highlights

Demand amount, including applicable interest: ₹28.11 crore
Assessment year 2023-24, relating to Financial Year 2022-23
Order received on 28 Oct 2026
Order passed under section 143(3) read with section 144C(13), Income-tax Act, 1961

The order in numbers

Item	Detail
Authority	Deputy Commissioner of Income Tax, Circle 2(1)(1), Vadodara
Order	Assessment order under section 143(3) read with section 144C(13), Income-tax Act, 1961
Notice of demand	Section 156, Income-tax Act, 1961
Demand	₹28.11 crore, including applicable interest
Assessment year	2023-24, relating to Financial Year 2022-23
Date of receipt	28 Oct 2026
Financial impact	None, according to the filing

The assessment order and the demand

The Deputy Commissioner of Income Tax, Circle 2(1)(1), Vadodara passed the assessment order under section 143(3) read with section 144C(13) of the Income-tax Act, 1961. A notice of demand under section 156 of the same Act followed, for ₹28.11 crore including applicable interest.

The company describes the order as part of the ordinary course of assessment proceedings.

The company's position and next steps

The company says it has adequate factual and legal grounds to reasonably and technically substantiate its position in the matter. It believes the consequent demand is not maintainable.

The company is preparing a rectification application and an appeal against the order within prescribed timelines. The filing states there is no financial impact on the company's financials, operations or other activities from the order.

What the tax demand means for Epigral's shareholders

The company states the order has no financial impact on its financials, operations or other activities. The company's stated position is that the demand is not maintainable, and the rectification application and appeal are the next steps.

The filing does not say how much of the ₹28.11 crore, if any, the company will pay while the appeal is pending, or when the appeal will be heard. The next dated step in the filing is the company's rectification application and appeal, which are to be filed within prescribed timelines.

Reference: Original filing (PDF)

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