Raymond Realty Discloses Income Tax Show-Cause Notice to Subsidiary Ten X Realty for ₹1.43 Crore Alleged Escaped Assessment

Ten X Realty Receives Income Tax Show-Cause Notice

Ten X Realty Limited, a material subsidiary of Raymond Realty Limited, received a show cause notice from the Income Tax Department on March 11, 2026, regarding escaped assessment of Rs.1,43,23,625 for FY 2022-23.

Details of the Notice

The notice, dated 11 March 2026, was issued by the Office of the Assistant Commissioner of Income Tax Central Circle 8(1), Mumbai. It claims that the income chargeable to tax for the assessment year 2023-24 has escaped assessment under section 147 of the Income Tax Act, 1961.

The notice was issued under section 148A of the Income Tax Act following a survey conducted in September 2025.

Parent Company Statement

Raymond Realty stated there will be no material financial impact, and Ten X Realty is preparing its response while taking appropriate remedial measures.

No penalty, restriction or sanction has been imposed as of now pursuant to the communication from the Income Tax Department.

Regulatory Disclosure

The intimation was made pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Raymond Realty, a listed company on the National Stock Exchange, disclosed the matter as required for material corporate events.

About Ten X Realty

Ten X Realty Limited has been incorporated as a step subsidiary of Raymond Limited with an object to carry on real estate business for development / joint development of land and properties other than existing properties of the Company situate at Thane, Maharashtra. The subsidiary operates within the broader portfolio of Raymond Realty, the real estate arm of the Raymond Group. Raymond Realty is the real estate development arm of the diversified Raymond Group, launched in 2017. It typically focuses on premium residential and commercial projects, with notable developments like Ten X Habitat in Thane.