Meesho Receives Rs 1,500 Crore Income Tax Demand Notice for 2023-24 Assessment Year

E-commerce company Meesho has received a tax demand notice of approximately Rs 1,500 crore from the Income Tax Department for the assessment year 2023-24, citing additions and adjustments to its reported income under Sections 143(3) and 156 of the Income Tax Act. Meesho stated it will contest the order, citing adequate legal grounds, and noted a similar demand for 2022-23 was stayed by the Karnataka High Court. The company said the notice does not materially affect its financial position or operations.