CRISIL Limited has received a reassessment order from the Income Tax Authority for AY 2017–18, resulting in a demand of ₹121.20 crore, according to a regulatory filing. The order relates to FY 2016–17 and pertains to income from merged subsidiaries, which the company said had already been consolidated and offered to tax. According to the filing, the Assessing Officer acknowledged that there was no escapement of income but allegedly made incorrect tax computations by adding unwarranted adjustments and not granting credit for taxes already paid, leading to the demand.
CRISIL stated that the subsidiaries' income was already merged with the company's income and tax was offered, as reported in the regulatory filing. The company noted that the Assessing Officer agreed there was no escapement of income from tax and issued a clean order accepting the income offered to tax. However, the AO erroneously computed the tax by making unwarranted additions and failing to give credit for taxes already paid, which resulted in an incorrect demand order.
CRISIL said there is no immediate impact on its financials or operations due to this tax demand, according to the regulatory filing. The company plans to file a rectification application along with an appeal against the order. This proactive approach indicates the company's confidence in resolving the matter through the proper legal channels.
CRISIL Limited had reported a 7.5% year-on-year increase in consolidated net profit for the quarter ended December 31, 2025, at ₹242 crore against ₹225 crore in the corresponding quarter of the previous year, as reported by CNBC TV18. The company's shares closed at ₹3,968.00 on the NSE on March 24, down ₹31.40 or 0.79% for the day.
