CG Power gets stay on Rs 33 crore tax demand pending ITAT appeal
CGPOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.3 pts less than Nifty 100 and 1.9 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CG Power received a Rs 33.02 crore tax demand for Assessment Year 2020-21 in November 2025. The company appealed to the Income Tax Appellate Tribunal in Mumbai and sought a stay. On 28 January 2026, the Deputy Commissioner of Income Tax granted a stay on the demand, conditional on the company paying 20 percent in 6 monthly instalments of Rs 1.10 crore each. The balance demand is stayed until the appeal is decided.
Positive development. Company only pays 20 percent upfront, rest deferred till appeal outcome. Provides cash flow relief though full liability remains contingent.