NSE/BSE Codes: NSE Code: KALPATARU, BSE Code: 544423
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure under Regulation 30 of SEBI Listing Regulations regarding an order received by Abacus Real Estate Pvt Ltd, a wholly owned subsidiary, from the Commissioner of Income Tax (Appeal), Mumbai.
Involved Parties / Authorities:
- Abacus Real Estate Pvt Ltd (Wholly owned subsidiary of Kalpataru Limited)
- Commissioner of Income Tax (Appeal), Mumbai (CIT(A))
- Income Tax Officer (Assessment authority)
- National Stock Exchange of India Limited
- BSE Limited
Date / Timeline of Event:
- Assessment Year: 2013-14
- Appeal filed by Abacus: Prior to June 26, 2025 (mentioned in prospectus)
- Order received by Abacus: July 3, 2026 at 3:45 p.m.
- Disclosure date: July 4, 2026
Brief Description of Outcome / Dispute:
Abacus Real Estate had filed an appeal before CIT(A) against the assessment order passed by the Income Tax Officer for AY 2013-14, which had made additions to income resulting in a tax demand including interest of ₹15.44 crore. The CIT(A) has dismissed the appeal and sustained the additions to income made by the Income Tax Officer.
Impact of Outcome:
Financial Impact:
- Original tax demand including interest: ₹15.44 crore
- Amount already paid: ₹6.24 crore
- Net tax demand sustained: ₹9.20 crore
- Company states: "The said Order does not have any material financial impact on the operations of the Company"
Operational / Business / Strategic Impact:
No material operational impact disclosed. The subsidiary plans to continue contesting the order.
Other Implications:
No specific reputational, legal, or market perception effects disclosed beyond the ongoing litigation.
Next Steps / Required Actions:
Abacus shall contest the said Order/file an appeal as per the applicable provisions of Income Tax Act. The company is "hopeful of a favorable outcome" in further proceedings.