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FMCG major Hindustan Unilever Ltd. (HUL) on Friday, October 31, 2025 announced that the company had received a tax demand notice totalling Rs 1,986 crore from the Mumbai Assistant Commission of Income Tax, as per an exchange filing.

The company in its exchange filing noted, "Assessment Order u/s 143(3)read with Sec. 144C(13) Income Tax Act, 1961 (ITA), along with Notice of Demand of ₹1,986.25 crores u/s 156 of the ITA,” the company informed the exchanges through its filing."

The Mumbai-headquartered tax authority has shown concern over how specific party transactions and corporate tax disallowances were valued, which HUL has allegedly conducted out in the nature of depreciation claimed.

“The Tax authorities have made transfer

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