Brainbees Solutions Limited Gets Major Relief As Tax Demand Slashed After Rectification Order For AY 2022-23
Brainbees Solutions Limited Gets Major Relief As Tax Demand Slashed After Rectification Order For AY 2022-23
Brainbees Solutions Limited informed the National Stock Exchange of India Limited (NSE) and the Bombay Stock Exchange (BSE) about an update concerning an ongoing income tax matter under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Background of the Case
On January 30, 2026, the Assistant Commissioner of Income Tax, Central Circle 1(1), Pune (Income Tax Department), sent an assessment order and a demand notice to the company, raising a demand amounting to Rs 31.36 Crore for Assessment Year 2022-23. This was attributable to an addition of Rs 93.57 Crore to the company’s total income for that year.
After this, the company filed a rectification application before the relevant authority. Based on the application and verification of case records, the Authority issued a rectification order along with a revised demand notice, reducing the tax demand on the company from Rs 31.36 Crore to Rs 38.37 Lakh. The total income for Assessment Year 2022-23 was then recomputed at Rs 52.54 Lakh.
Key details of Order
| Particulars | Details |
| Company Name | Brainbees Solutions Limited |
| Symbol | FIRSTCRY |
| Order Date | March 24, 2026 |
| Earlier Intimation Date | January 31, 2026 |
| Issuing Authority | Income Tax Department, Pune |
| Assessment Year | 2022-23 |
| Addition to Income | Rs 93,57,99,520 |
| Original Tax Demand | Rs 31,36,30,330 |
| Revised Tax Demand | Rs 38,37,210 |
| Demand Reduction | Rs 30,97,93,120 |
| Next Step | Appeal before ITAT |
Financial Impact
The revised assessment order has brought down the tax demand by a good margin. The earlier demand of Rs 31,36,30,330 has been reduced to Rs 38,37,210. This results in a reduction of Rs 30,97,93,120, lowering the company’s tax liability for the year.
Company Disclosure and Compliance
It also mentioned that it has always maintained high standards of integrity, corporate governance, and compliance in all aspects of its operations, including prompt payment of taxes. The company further stated that it remains committed to upholding these standards. It further reaffirmed its commitment to continuing these standards going forward.
This disclosure has been in continuation of the earlier intimation dated January 31, 2026, bearing reference no. FC/SE/2025-26/80.