AXISCADES Technologies Limited has informed regarding Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Update on Ongoing Litigation
AXISCADES · price
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On the reaction day the stock moved 3.2 pts less than Nifty Microcap 250 and 3.4 pts less than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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AXISCADES Technologies' wholly-owned subsidiary, AXISCADES Aerospace & Technologies Private Limited, has won a favourable order from the Karnataka High Court in an income tax matter. The court has quashed the notice, demand notice, and penalty notice (all dated 22nd May 2023) issued by the Income Tax Department for fiscal year 2014-15. The original proceedings related to the admissibility of capital loss claimed in the subsidiary's income tax returns under Sections 147, 144, and 144B of the Income Tax Act. The High Court had earlier granted a stay, and now through its order dated 4th November 2025, it has set aside the tax notices entirely. No settlement terms or financial payout details have been disclosed.
Positive for shareholders — the quashing of the income tax notices removes a potential tax liability and penalty threat hanging over the subsidiary, reducing financial uncertainty. The market is likely to view this development as a relief, though the underlying tax department could still pursue other remedies.