New Delhi: Hitachi Energy India Ltd on Friday said it has received an income-tax order raising a demand of around ₹26 crore for the assessment year 2022–23, and that it will contest the assessment before the appellate authorities.
In a regulatory filing, the company said the Assessment Unit of the Income-tax Department has passed an order under Sections 143(3), 144C(13) and 144B of the Income-tax Act, along with a notice of demand under Section 156. The order and demand notice were received on January 23, 2026.
The tax demand comprises income tax of ₹16.40 crore and interest of ₹9.67 crore, taking the total exposure to ₹26.07 crore. The demand arises from alleged disallowances related to interest on delayed receivables and group management fees, the company said.
Hitachi Energy India said it believes the tax demand and interest levied are “arbitrary, unjustified and unsustainable in law” based on its assessment of the facts and prevailing legal position. The company added that it will file an appeal before the Income-tax Appellate Tribunal (ITAT) within the prescribed timeline.
The company did not quantify any immediate impact on its operations, noting that the matter is under dispute and subject to appellate proceedings.
The disclosure was made under Regulation 30 of the SEBI Listing Regulations, which requires listed companies to inform exchanges of material regulatory or legal developments.