• Litigation
• 1 min read

Physicswallah's tax demand trimmed to ₹192.76 crore; appeal filed

Physicswallah Limited has received partial relief in an income-tax dispute. The tax demand for the assessment year 2023-24 has been reduced to ₹192.76 crore. The company is contesting the remaining amount. This follows a rectification order after the company sought correction of the original assessment.

• ETLegalWorld

• Published On Apr 14, 2026 at 10:48 PM IST

Edtech firm Physicswallah Limited has secured partial relief in an income-tax dispute, with the tax demand for assessment year 2023–24 reduced to ₹192.76 crore from ₹263.34 crore, even as it moves appellate authorities to contest the balance amount.

The company informed stock exchanges that it received a rectification order on April 13 under Section 154 read with Section 143(3) of the Income-tax Act, following an application filed by the company seeking correction of the original assessment. The revised order was issued by the Assistant Commissioner of Income Tax, Circle 5(2)(1), Noida.

The dispute traces back to an assessment order and demand notice dated March 16, 2026, under which the tax department had raised a demand of ₹263.34 crore. According to the company’s earlier disclosure, the assessment unit had treated certain investments received during FY24—including funds from SEBI-registered Category II alternative investment funds—as taxable income.

Advt Following the rectification, Physicswallah said it has filed an appeal against the revised order before the appropriate appellate authority, reiterating that it has strong legal and factual grounds to challenge the remaining demand.

The company has maintained that neither the original demand nor the revised amount is expected to have any material impact on its financial position, operations or business activities.

The disclosures were made in compliance with Regulation 30 of the SEBI Listing Regulations.