Bharat Seats Limited has informed the stock exchanges that it has received multiple assessment orders and demand notices from the Income Tax Department, amounting to Rs 20.11 crore. These orders, issued under sections 147, 143(3), and 156 of the Income Tax Act, pertain to ten assessment years — from FY2014-15 to FY2021-22, as well as FY2023-24 and FY2024-25.
The company received the notices between March 28 and March 31, 2025, from the Deputy Commissioner of Income Tax, Central Circle-19, Delhi. These demand notices include claims net of refunds and accrued interest.
Bharat Seats clarified that it is actively pursuing legal remedies, including filing appeals and rectification applications. Based on its internal evaluation and legal counsel, the company expressed confidence in obtaining a favorable outcome and stated that no financial or operational impact is anticipated at this stage.
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