Nature of the Event
This is a regulatory disclosure pursuant to SEBI Listing Regulations (Regulation 30 and Schedule III) providing an update on an ongoing income tax litigation matter. It is a continuation of a prior disclosure made on May 23, 2023.
Key Developments and Quantitative Figures
- The Commissioner of Income Tax (Appeals) [CIT(A)] has dismissed the company's appeal via an order dated June 03, 2026, which was received by the company on the same day at 03:35 p.m.
- This appeal was filed against an order dated May 11, 2023, passed by the Assessing Officer (AO).
- The original AO order made an addition of ₹19.22 crores to the company's total income for Assessment Year 2016-17 (Financial Year 2015-16).
- The specific ground for the addition was the disallowance of dividend received, which was claimed as exempt income.
Parties Involved and Stated Rationale
- Regulator/Adjudicating Authority: Assessing Officer (AO), Commissioner of Income Tax (Appeals) [CIT(A)]
- The Company's Action/Rationale: The company states it intends to file a further appeal before the Income Tax Appellate Tribunal (ITAT) within the prescribed timelines. The company believes it has a reasonable case on merits and, based on this belief, does not expect any material adverse impact on its financial position.
Financial Impact
As per the mandatory annexure (Annexure-A) required by SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, the expected financial implication on the listed company is stated as: "To the extent of demand made." This implies a potential financial liability of ₹19.22 crores, contingent on the outcome of the further appeal.