Awaiting price reaction for this filing.
Blue Dart Express received a revised order from the Income Tax Department (TDS) significantly reducing an earlier tax demand. The original demand of Rs. 17.01 crore plus interest of Rs. 10.71 crore (total ~Rs. 27.72 crore) for FY 2017-18 to FY 2023-24 has been cut to Rs. 2.90 crore plus interest of Rs. 1.72 crore (total ~Rs. 4.62 crore). The dispute relates to payments made to transporters, where the department alleged violation of Section 194C(6) of the Income Tax Act. The company is analyzing the revised orders and will evaluate its options going forward.
This is positive news for shareholders — the tax liability has dropped by roughly 83% from the original demand, easing a major overhang on the stock. The final impact will depend on whether the company chooses to accept or further contest the revised order.