Cheviot Company Limited has informed the Exchange about Update on disclosure made under Regulation 30 on 7th March 2025
CHEVIOT · price
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On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 0.2 pts more than its Paper Forest & Jute Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Cheviot Company has received a Rectification Order dated 7th July 2025 from the income tax assessing officer, reducing the earlier tax demand of ₹2,234.98 Lakhs to just ₹158.93 Lakhs for Assessment Year 2016-17. This sharp ~93% reduction came after the company's rectification petition was accepted and credit was given for pre-paid taxes already deposited. The company had originally received the assessment order in March 2025. While it still plans to pursue further relief on remaining disallowances at higher forums, management stated the disputed tax is no longer expected to have a material impact on the company.
This is positive news for shareholders — the substantially reduced tax demand eases a major overhang on the company. Lower contingent liability and absence of material financial impact should support investor confidence in the stock.