Munjal Showa Limited has received a Notice of Demand under Section 156 of the Income-Tax Act, 1961, and an Order under Section 143(3) read with Section 144C(13) and 144B of the Income-Tax Act, 1961. The notice, received on December 26, 2025, pertains to the assessment year 2022-23. The total demand determined by the Income Tax Department amounts to ₹703.83 Lakhs (₹7.04 Crore), including interest. This demand arises from an adjustment to the assessed income for AY 2022-23, which was assessed at ₹2768.90 Lakhs as against the returned income of ₹489.48 Lakhs. The adjustment was primarily due to royalty payments amounting to ₹2254.99 Lakhs. The company intends to challenge this demand based on strong merits by filing an appeal before the Income Tax Appellate Tribunal.