Swiggy received £ 158 crore tax question notice on alleged offenses, plans to appeal | Einsmark news

Online food delivery and fast trading platform SWIGGY LTD on Tuesday, April 1, an additional tax demand of £ 158 received the income tax division on alleged contradictions, the company said in a scholarship. According to the BSE filing, Swiggy received the notice of income tax division demanding £ 158.25 for the period of 2022 April 2021 March. “The company received a judgment order for the period April 2021 to March 2022, where an addition of INR 158,25,80,987/-” the company announced in the filing. The alleged offenses cited by the Income Tax Department include cancellation costs paid to traders, which were not admitted under section 37 of the IT Act of 1961. The Income Tax Division also claimed that the company did not pay tax on the interest income it earned for the Income Tax Refund (ITR). “We believe that we have a strong case on merit, and the company will appeal against the order before the appropriate authority,” the company said in the BSE filing. According to the filing, this tax order will have no ‘major’ effect on the financial and operations of the food delivery giant. Swiggy share price swiggy -shares closed 0.50 percent higher at £ 331.55 in Tuesday’s stock market, compared to £ 329.90 on the previous market. The share price will be in focus tomorrow, as the company received the notice of income tax division on Tuesday after the market hours. The shares of the food delivery platform were listed on the Indian stock market on November 13, 2024. The shares lost 38.85 percent in 2025 on a year-on-date basis. The shares hit their £ 617 on December 23, 2024, while the low of all time was £ 312.80 on March 27, 2025. The shares are now trading just above the lifetime. Disclaimer: The views and recommendations above are those of individual analysts, experts and brokerage companies, not of currency. We advise investors to check with certified experts before making investment decisions. Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. Business NewsMarketsstock Marketsswiggy receives £ 158 crore tax question notice on alleged offenses, plans to appeal less