Aditya Infotech wins major Income Tax appeal relief for AY 2019-20
CPPLUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.0 pts more than Nifty Smallcap 250 and 1.4 pts more than its Industrial Products 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.
Aditya Infotech Limited received substantial relief from the Commissioner of Income Tax (Appeals) in its appeal for AY 2019-20. The original demand of about Rs. 18.96 crore was raised on alleged additional income of Rs. 40.38 crore. CIT(A) waived additions of Rs. 36.78 crore, leaving only Rs. 3.60 crore as net addition. The company had already deposited Rs. 3.80 crore and now plans to challenge the balance, which it views as legitimate expenses. Company says no material impact on financials.
Positive: substantial tax relief secured with demand reduced sharply. Company plans to appeal remaining small amount. No material financial impact.