New Delhi, March 7 (SocialNews.XYZ) E-commerce marketplace Meesho has received an income tax demand of nearly Rs 1,500 crore for the assessment year 2023–24 and said it will challenge the order, stating that it disagrees with the tax department’s observations.
The demand was issued through an assessment order under Section 143(3) of the Income Tax Act, 1961 along with a demand notice under Section 156.
According to an exchange filing, the tax authorities have raised a total demand of Rs 1,499.73 crore, including applicable interest.
“Based on the said Assessment Order under Section 143(3) of the Income-tax Act, 1961 along with a Demand Notice under Section 156 of the Income-tax Act, 1961 for the Assessment Year 2023-24, the Assessment Unit of Income Tax Department has raised a tax demand aggregating to Rs 14,99,73,82,840, including applicable interest,” the e-commerce platform said.
Meesho said it does not agree with the observations and adjustments made in the assessment order.
“The Company is currently evaluating the Assessment Order and does not concur with the observations and adjustments made in the Assessment Order,” it added.
The company added that it believes it has strong legal and factual grounds to contest the demand and is taking necessary steps to protect its interests.
“The Company believes that it has adequate legal and factual grounds to contest the same and is taking necessary steps to protect its interest,” the e-commerce firm stated.
The company also clarified that the tax order does not have any major adverse impact on its financial position, business operations, or other activities.
“The Assessment Order along with the Demand Notice does not have any major adverse impact on the Company's financial position, operations, or other activities,” it added in its filing.
Meesho noted that a similar tax demand had earlier been issued for the previous assessment year 2022–23.
That matter is currently pending before the Karnataka High Court, which granted an interim stay on the demand notice on April 17, 2025.
Source: IANS
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