Bombay Dyeing and Manufacturing Company Ltd received an assessment order from the Income Tax Department's Assessment Unit on Monday, May 4, 2026, enhancing its taxable income by ₹574.35 crore for Assessment Year 2023-24. According to reports from CNBC TV18, the enhanced income has been set off against available tax losses, resulting in a tax demand notice of ₹2,26,760. The company stated that penalty proceedings have also been initiated separately by the Income Tax Department.
The income enhancement was attributed to several factors as reported by CNBC TV18. These include transfer pricing adjustments, disallowance of deductions claimed with respect to real estate income offered in earlier years, and certain other expenses. The order was received through a system-generated email on Monday, May 4, 2026, and the company confirmed it has not impacted operations or other activities except for the financial impact disclosed.
Despite the tax assessment, shares of Bombay Dyeing & Manufacturing Company Ltd ended at ₹126.60, gaining ₹13.47 or 11.91% on the BSE on Monday. As reported by CNBC TV18, the company stated it will take necessary action, including legal remedies available under the Income Tax Act, to address the assessment order.
