Snowman Logistics Tax Demand: Company to Appeal Rs 2.07 Crore Penalty
Snowman Logistics received a Rs 2.07 crore income tax penalty demand for AY 2024-25 and is preparing an appeal, saying it expects no financial impact.
Snowman Logistics tax demand of Rs 2.07 crore relates to an income tax penalty that the company received on October 2, 2026, according to its BSE filing that day. The company said it is taking steps to appeal against the penalty orders and believes they will have no impact on its financials, operations or other activities.
The notice specifies a demand of Rs 2,06,56,802 for Assessment Year 2024-25. Snowman Logistics said the Income Tax Department issued the demand notice under Section 156 of the Income Tax Act, 1961, for a penalty concerning under-reported income.
The disclosure identifies the issuing authority as the Office of the Additional Commissioner of Income Tax, Central Circle 2(1), Mumbai. The notice is dated September 30, 2026, and reached the company by email on October 2.
Penalty linked to Assessment Year 2024-25
The company identified Section 270A(13) of the Income Tax Act as the provision relating to the penalty. The assessment year covered by the demand is 2024-25; the filing does not provide a detailed calculation of the amount or describe the underlying income items involved.
Although the BSE headline categorises the announcement under award or receipt of an order, the attached disclosure concerns an Income Tax Department demand notice. It does not disclose a customer contract or a commercial order win.
Snowman Logistics submitted the notice details to BSE and the National Stock Exchange under Regulation 30 of the SEBI Listing Regulations. Its exchange identifiers are BSE scrip code 538635 and NSE symbol SNOWMAN.
Company sets out appeal position
Based on its assessment, Snowman Logistics said the penalty orders are not sustainable. It is taking the necessary steps to challenge them before the appropriate authority and expressed hope of a favourable outcome at the appellate level.
The statement that there is no impact on financials, operations or other activities reflects the company's assessment. The filing does not report an appellate decision, withdrawal of the demand or a completed appeal process.