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Bajaj Electricals gets ₹112.32 crore tax demand for AY 2019-20 - Published OnOct 31, 2026 | 14:29 IST - Last Updated OnOct 31, 2026 | 14:29 IST The tax demand stems from disallowed business expenses and missing credits for previously paid taxes, triggering a sharp slide in the company share price to a new yearly low. Management is weighing legal options, including filing a rectification application or an appeal. Find out how the company plans to address potential financial penalties. Bajaj Electricals Limited received an income tax demand of ₹112.32 crore, including interest, for Assessment Year (AY) 2019-20, the company disclosed in a regulatory filing on Friday, October 31. Bajaj Electricals Tax Notice The company said that the income tax department disallowed some expenses that it had claimed for the said assessment year. It said the order would not affect its day-to-day business. The National Faceless Assessment Centre (NFAC) of the Income Tax Department issued the order on October 29 under Section 147 of the Income Tax Act, 1961. The demand arose from the disallowance of expenses, which means the department refused to let the company deduct those costs from its taxable income. AY 2019-20 covers income earned in the financial year 2018-19. Section 147 allows the tax department to reassess a taxpayer's income when it believes some income has escaped assessment. Faceless assessments are handled online, without any direct meeting between the taxpayer and the officer. Bajaj Electricals said the Assessing Officer passed the order without giving credit for taxes it had already paid. The order also left out credit for interest under Section 244A of the Act, which deals with interest on tax refunds, the company said. The filing described both points as omissions by the Assessing Officer. Company Response The company said its management was evaluating its legal options, including filing a rectification application or an appeal before the appropriate authority. A rectification application asks the authority that passed an order to correct a mistake in it. An appeal takes the matter to a higher authority. Bajaj Electricals said any financial impact would be limited to the demand raised and any penalty levied. It said the order had no impact on its operational, financial or other activities. Bajaj Electricals shares ended 5.81% lower on Friday, October 30, and hit a 52-week low of ₹263.25 during the day. It was the stock's second straight session of losses. The shares have fallen 44.28% so far this year and 49.92% over the past 12 months. Also Read: Shyam Metalics Q2 results: Company records 88% YoY jump in net profit; margins improve
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