CG Power and Industrial Solutions Limited has informed regarding Disclosure of material issue
CGPOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CG Power has received a fresh income tax reassessment order dated 20 April 2026 for Assessment Year 2022-23, passed under Section 143(3) read with Section 263 of the Income Tax Act. The order raises an additional disallowance of Rs. 21.43 crore on account of set-off of unabsorbed depreciation loss. This is on top of the original tax demand of Rs. 188.79 crore raised in February 2024, taking the total exposure to about Rs. 236.74 crore for that assessment year. The company had earlier deposited Rs. 4.89 crore under a stay order, and the balance demand was stayed pending appeal. CG Power is in the process of filing an appeal before the Commissioner of Income Tax (Appeals) and believes it has a fair chance of having the additions deleted.
This adds to an ongoing tax dispute but no immediate fresh cash outflow is required beyond the Rs. 4.89 crore already deposited under the earlier stay. The outcome remains uncertain and contingent on the appeal; investors should track progress as a favourable ruling could be a positive trigger, while an adverse one would raise the effective tax burden.