Nucleus Software Exports has been issued a tax demand of ₹28,33,460 for the Assessment Year 2023-24 by the Income Tax Department, Delhi. The demand arises from adjustments made to the transfer pricing margins concerning certain intercompany transactions.
The order, passed by the assessing officer, also includes the initiation of penalty proceedings. Nucleus Software has stated that it believes the order is not maintainable and is in the process of appealing against it. The company has assured that this order will not materially impact its financials, operations, or other activities.
The company received the order on 6 May 2026. It is currently reviewing the order and plans to respond appropriately, including filing an appeal and addressing the penalty proceedings.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).