Quess Corp Limited has received demand order of ₹180.05 Crores for non-filing of Income Tax Returns by E-NXT from Income Tax Department.
The department has issued order under the following grounds: (i) For outstanding demands; (ii) Penalty proceeding for non-submission of response to notices; (iii) Penalty proceeding for not getting audited under provisions of the Income Tax Act, 1961; (iv) Penalty under section 270A of the IT Act for under reporting of income; (v) Penalty for failure to maintain books of accounts; and (vi) Demand order under Section 147 of the IT Act.
The Company is in the process of responding to these orders and restating that E-NXT has ceased to exist as a separate legal entity from 2015 and hence these orders are not maintainable. The notices/orders continue to be issued in the name “E-NXT Financials Limited” and not directly in the name of ‘TBSS/Conneqt or Quess Corp limited’,” Quess Corp Limited responds in an exchange filing.
The service company has clarified that TBSS/Conneqt has filed a combined Income Tax Return for AY 2015-16 onwards, as the amalgamation was effective from April 1, 2014 approved by the Bombay High Court, and received ‘NIL’ demand for the said Assessment Year.
The company received order on November 4, 2024.
