Crisil Limited has received a re-assessment order from the Income Tax Authority, resulting in a demand of ₹121.20 crore. The order, issued on 23 March 2026, pertains to the financial year 2016-17 and involves Crisil‘s merged subsidiaries.
According to the re-assessment order under section 147, the Assessing Officer (AO) initially agreed that there was no escapement of income from tax, as the subsidiaries’ income had already been merged with Crisil’s income and offered for tax. However, the AO erroneously computed the tax by making unwarranted additions and not giving credit for taxes already paid, leading to an incorrect demand order.
Despite the demand, Crisil has stated that there is no immediate impact on its financial, operational, or other activities. The company plans to file a rectification application and an appeal against the order to address the discrepancies identified.
This development is part of Crisil’s ongoing engagement with tax authorities to resolve the issue amicably. The company remains committed to ensuring compliance with all regulatory requirements while protecting its financial interests.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).