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Snowman Logistics disputes Rs 2.07 crore penalty notice from the Income Tax Department for Assessment Year 2024-25
02-Oct-2026, 08:48
Snowman Logistics Limited has disclosed receiving a demand notice from the Income Tax Department dated September 30, 2026, for an amount of Rs 2,06,56,802, representing a penalty under Section 270A(13) of the Income Tax Act, 1961, related to under-reported income for Assessment Year 2024-25. The company believes the penalty orders are not sustainable and intends to appeal the decision, anticipating a favorable outcome and asserting that the matter will have no material impact on its financials, operations, or other activities.