Container Corporation Of India Limited has informed the Exchange about General Updates-it is hereby informed the dismissal of Miscellaneous Application filed by ACIT,Circle 6(2) against the company for the Assessment Year 2008-09 by Income Tax Appellate Tribunal, Delhi Bench " B" New Delhi.
CONCOR · price
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Awaiting price reaction for this filing.
The Income Tax Appellate Tribunal (ITAT), Delhi Bench 'B', has dismissed a Miscellaneous Application filed by the Income Tax Department (ACIT, Circle 6(2)) against CONCOR for Assessment Year 2008-09. The dispute involved a potential tax liability of ₹96.59 Crore related to the disallowance of a deduction claimed under Section 80IA of the Income Tax Act, 1961, concerning rolling stock used as a rail system. The order was pronounced on 15-07-2025. CONCOR had previously won this matter at the CIT(A) level in 2017, and the ITAT had also dismissed the department's original appeal in 2020. The company has stated there is no financial, operational, or other impact from this ruling.
Positive for shareholders as it removes a potential ₹96.59 Crore tax liability overhang, though the company states no material financial impact. This ruling reinforces CONCOR's position on Section 80IA deductions and provides clarity on a long-pending tax dispute spanning nearly two decades.