Income tax appeal order for AY 2018-19, demand of Rs 43.10 lakhs

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Price reactionminutes from the announcement price · days from the prior close

+2.3%Reaction day

₹86.31

prior close

₹87.00

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+1.0%+1.3% vs market

Petrochemicals peers, median of 12sector-0.6%+2.9% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty Microcap 250 and 2.9 pts more than its Petrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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UpDownMarket · Nifty Microcap 250Sector · Petrochemicals peers, median of 12Pending

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AI summary

CIT(A) Delhi passed an order for Assessment Year 2018-19 disallowing Research and Development expenditure deductions claimed in the income tax return. Additional tax demand of Rs 43.10 lakhs arises from this order. Company says there is no material impact on its financial position or operations and will file an appeal before the Income Tax Appellate Tribunal, Mumbai within the prescribed timelines.

Likely market impact

Tax demand of Rs 43.10 lakhs is small and not material. Company will appeal. Unlikely to affect the stock.