Announced Wed, 1 Jul · 16:14 IST
Anik Industries wins 5 income tax appeals, positive impact of about 93.5 Cr
Regulatory & Legal View source PDF
ANIKINDS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.9%1-day move
₹45.85
prior close
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base price
After-mkt
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AI summary
Commissioner of Income Tax (Appeals) has allowed Anik Industries' appeals against assessment orders for assessment years 2014-15, 2015-16, 2017-18 and 2019-20. The orders will lead to a positive financial impact of about Rs 93.5 crore (86.04 Cr + 4.91 Cr + 2.48 Cr + 52.61 lacs + 7.80 lacs). The company has successfully overturned earlier income tax demands.
Likely market impact
Major positive - overturns earlier tax demands, relief of about 93.5 Cr boosts earnings and cash position