Date: June 18, 2026
Other Operational / Legal / Strategic Disclosures
Nature of Disclosure: The company has received a favorable order from the Commissioner of Income Tax (Appeals) [CIT(A)], Mumbai.
Details of Litigation:
- The litigation pertained to an appeal filed against a TDS (Tax Deduction at Source) proceedings order under section 201 of the Income Tax Act for Assessment Year 2014-15.
- The dispute was specifically regarding TDS obligations on payments made to non-residents.
Outcome of Litigation:
- The CIT(A) passed a favourable order dated June 17, 2026.
- The appeal was allowed, with the CIT(A) holding that Crisil Limited cannot be treated as an assessee in default.
- The ruling stated that the payments in question are not liable to TDS provisions.
Financial Implications:
- There is no immediate impact on the financial, operation, or other activities of the Company.
- The company will be filing for an 'Order giving effect' with the Assessing Officer.
- A relief of the TDS demand (including interest) of INR 40.23 Crores is anticipated.
Quantum of Claims: Not applicable.