Material subsidiary DMSL gets income tax demand of about Rs 3.46 crore for AY 2024-25

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Price reactionminutes from the announcement price · days from the prior close

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Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)+2.9%+1.2% vs market

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On the reaction day the stock moved 1.2 pts more than Nifty Smallcap 250 and 3.2 pts more than its Commodity Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Income Tax Department issued a demand of about Rs 3.46 crore (Rs 3,45,75,555) on material subsidiary Deepak Mining Solutions Limited (DMSL) for assessment year 2024-25. The demand relates to disallowance of depreciation on intangible assets that were recorded during the demerger of the TAN business into DMSL. The company states there is no material impact on financials or operations. DMSL notes that a similar issue was earlier decided in its favour by the Income Tax Appellate Tribunal and plans to appeal this order.

Likely market impact

Tax demand of about Rs 3.46 crore on subsidiary; company says no material impact and will appeal, expecting favourable outcome based on prior rulings.