Tata Capital receives ₹413-cr I-T reassessment order, will appeal

Tata Capital has received a ₹413-crore reassessment order from the Income Tax Department for FY2017-18, on account of "short credit of taxes paid, interest levied, and certain disallowances." The company said the demand stemmed from a calculation error and doesn't reflect actual liability. It plans to challenge the order through appropriate legal channels and expects no material financial impact.