CRISIL to Appeal ₹149 Crore Tax Demand

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AuthorVihaan Mehta|Published at:
CRISIL to Appeal ₹149 Crore Tax Demand
Overview

CRISIL Ltd received an income tax assessment notice for AY 2023-24, demanding ₹149 crore in tax and interest. The company plans to appeal the order, stating there's no immediate financial or operational impact.

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CRISIL Plans Appeal Against ₹149 Crore Tax Demand

CRISIL Ltd has received an income tax assessment order for Assessment Year 2023-24, demanding ₹148.99 crore in tax and interest. The credit rating firm stated the demand has no immediate impact on its financial or operational activities and plans to file an appeal against the order.

For context, CRISIL reported a net profit of ₹658.4 crore for FY23.

Why This Matters

Tax disputes can represent potential financial liabilities. While CRISIL has a track record of successfully appealing such demands, an unfavorable outcome could lead to significant financial implications for the company.

Past Tax Scrutiny

CRISIL has faced similar tax scrutiny before. In March 2026, it disclosed a tax re-assessment order for AY 2017-18 demanding ₹121.20 crore, plus other demands for TDS and GST in earlier years, all of which it contested. These cases suggest tax authorities are frequently examining the company's financial calculations.

Risks to Watch

The main risk is the financial impact if the appeal against the current tax demand is unsuccessful. Investors will be watching the appeal's progress and outcome.

Contingent Liabilities

As of March 31, 2023, CRISIL reported contingent liabilities related to taxes and claims totaling ₹112.8 crore.

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