India, March 7 -- Ecommerce major Meesho has received a tax demand worth Rs.1,499.74 Cr, including applicable interest, from the Income Tax (IT) department's assessment unit for the assessment year 2023-24 (FY24).

In a filing with the stock exchanges on March 6, the Bengaluru-based company said it had received an assessment order under Section 143(3) of the Income-tax Act, along with a demand notice under Section 156 dated March 5, 2026.

For context, Section 143 (3) of the IT Act, pertains to scrutiny assessment, where an assessing officer (AO) from the IT department conducts a detailed investigation to verify the accuracy of a filed return. AO examines accounts, documents, and evidence to check the truthfulness of income, deductions, a...