BSEHighNegative
Announced Wed, 30 Apr · 17:40 IST
Disclosure under Regulation 30 of SEBI (LODR) Regulation, 2015 - Intimation of Stay Order
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Allied Blenders and Distillers (ABDL) has received a stay order from the Income Tax Department staying 90% of the income tax demand raised against the company. This follows the company's earlier appeal filed before the Commissioner of Income Tax (Appeals) – 50, Mumbai, challenging various additions and disallowances made by the tax department. The stay was communicated via a letter dated April 29, 2025. The company has expressed confidence in getting a favourable outcome in the pending appeal.
Likely market impact
This is a positive development for shareholders as 90% of the tax demand is now on hold, significantly reducing immediate cash outflow pressure and financial liability risk while the appeal is being heard.