By Admin 
Meesho: Well-known e-commerce platform Meesho has suffered a major setback. The Income Tax Department has sent a tax notice of about Rs 1500 crore to the company for the assessment year 2023-24. The company gave this information in its stock exchange filing on March 7 and also said that it would challenge this decision. The company said in its disclosure that this demand has been made through an assessment order issued under Section 143(3) of the Income Tax Act and a demand notice under Section 156.
What explanation did Meesho give?
According to the filing, the tax department has demanded Rs 1,499,73,82,840 including applicable interest. Whereas the company plans to challenge this demand notice. The company said that it does not agree with the things and adjustments made in the assessment order. The company believes that it has many legal and genuine reasons to challenge it and it is taking necessary steps for its own benefit. Meanwhile, the company also said that this order will not have any major adverse impact on its financial condition, operations or other activities.
What is the reason for the notice?
In this notice sent for the assessment year 2023-24, the Income Tax Department has accused the company of under-reporting of income. The total tax amount in this is Rs 1499.7 crore, which also includes interest. The company said that a similar demand order had earlier been issued to it for the previous assessment year (2022–23). According to the filing, the matter is currently pending in the Karnataka High Court, which had put an interim stay on the demand notice on April 17, 2025.
Company started in 2015
Meesho was started in 2015 by IIT graduates Vidit Atre and Sanjeev Baranwal. Bengaluru Best This company runs a marketplace focused on value commerce and small sellers, mostly focusing on consumers in Tier-II and smaller cities. The company said that it will take legal measures against the tax demand while continuing its operations.
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