Jet Freight Logistics Limited received a Demand Notice on March 27, 2024, from Income Tax Department with a demand aggregating to INR 40,10,610. The said demand pertains to the assessment year 2022-23. Based on assessment, company believe that the said demand is not maintainable, and the Company is in the process of preferring an appeal against the said Order to the National Faceless Appeal Centre (NFAC).

The company filed a return of income for the assessment year 2022-23 on September 29, 2022. The return of income was processed under section 143(1) of the Income Tax Act, 1961. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: The Company believes that the above demand is not maintainable and hence is in the process of preferring an appeal against the said order/demand.