Polycab India Limited has submitted a regulatory disclosure to BSE Limited and National Stock Exchange of India Limited regarding an order received from the Income Tax Appellate Tribunal (ITAT), Mumbai.
Details of the Order
Authority: Income Tax Appellate Tribunal, Mumbai (ITAT)
Nature of Order: Order(s) under Section 254 of the Income Tax Act, 1961 for Assessment Years 2015-16 to 2023-24, relevant to Financial Years 2014-15 to 2022-23.
Date of Receipt: 24th June 2026
Background and Outcome
The matter relates to earlier assessment orders and subsequent appellate proceedings against additions/disallowances made by the Income Tax Authority. The Commissioner of Income Tax (Appeals) [CIT(A)] had previously granted complete relief to the company.
The Income Tax Department had filed appeal(s) before the ITAT against the CIT(A) orders. The ITAT has now dismissed the appeal(s) filed by the Department, thereby upholding the CIT(A) orders.
Financial Impact Assessment
In consultation with its tax advisors, the company does not expect any adverse impact on its financials or operations arising from this order, given that the ITAT has dismissed the Department's appeals and upheld the favorable CIT(A) orders.
Company Contacts
Corporate Office: #29, The Ruby, 21st Floor, Senapati Bapat Marg, Tulsi Pipe Road, Dadar (West), Mumbai 400 028