General Insurance Corporation of India has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
GICRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.5 pts less than Nifty Midcap 150 and 2.5 pts less than its General Insurance peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
General Insurance Corporation of India has received a tax demand notice from the Income Tax Department, Mumbai, for assessment year 2023-24. The demand amounts to Rs. 350.47 crores following an assessment order under Section 143(3). The additions relate to transfer pricing adjustments (Rs 88.84 crore), 14A expenses disallowance (Rs 2.70 crore), payments to unregistered GST entities (Rs 565.01 crore), amortization of investment premium (Rs 52.81 crore), and provision for doubtful debts (Rs 329.48 crore). The company states there is nil impact on its financial position and intends to file an appeal before the National Faceless Appeal Centre (NFAC) within 30 days after consulting tax consultants.
The Rs 350 crore tax demand is material but the company has challenged the assessment and expects a favourable outcome. Until the appeal is decided, the stock may see minor negative reaction due to uncertainty, though the company's NIL impact claim could provide some comfort to investors.