Munjal Showa faces INR 703.83 lakhs income tax demand

Munjal Showa Limited announced on December 27, 2025, that it has received a demand notice under section 156 of the Income-Tax Act, 1961, from the Income Tax Department. The notice, dated December 26, 2025, specifies a total demand of INR 703.83 lakhs, including interest, for the assessment year 2022-23.

The demand stems from an income tax order that assessed the company's income for 2022-23 at INR 2768.90 lakhs, significantly higher than its returned income of INR 489.48 lakhs. This discrepancy is primarily due to an adjustment of INR 2254.99 lakhs related to royalty and other payments.

Munjal Showa intends to challenge this demand, asserting strong merits for an appeal before the Income Tax Appellate Tribunal. The company is actively addressing the notice, which falls under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.