Quess Corp Challenges ₹180.05 Crore Tax Demand from Income Tax Department Linked to E-NXT

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Posted by pallavi on 2024-11-29 16:59:59 |

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Quess Corp has received a ₹180.05 crore tax demand from the Income Tax Department related to E-NXT, a company that Quess Corp states ceased to exist in 2015. The notice addresses issues such as non-filing of income tax returns and penalties for various violations, including underreporting of income and failure to maintain books of accounts. Quess Corp is challenging the demand, asserting that E-NXT merged with TBSS/Conneqt in 2014, and since then, TBSS/Conneqt has been filing combined tax returns with no related tax demands. The company is in the process of responding to the orders, emphasizing that E-NXT has not been a separate legal entity since 2015, and the tax demands are not applicable. The notices have continued to be issued in the name of "E-NXT Financials Limited" rather than TBSS/Conneqt or Quess Corp.

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