CG Power gets stay on Rs 352.94 crore tax demand pending ITAT appeal
CGPOWER · price
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CG Power received a revised tax demand of Rs 352.94 crore from the Income Tax Department for Assessment Year 2018-19, down from an initial demand of Rs 365.37 crore. The company filed an appeal with the Income Tax Appellate Tribunal in Mumbai on January 16, 2026, and obtained a stay on the demand. The stay requires paying 20 percent of the demand in 5 installments of Rs 9 crore each, with the balance 20 percent payable in a 6th installment after adjusting any refunds.
Positive short-term relief on cash flow as demand is stayed; however, the company must pay about Rs 70 crore upfront in installments while the appeal remains pending.