ITAT rules in Dodla Dairy's favor on Rs 26.2 cr tax refund
DODLA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.7 pts less than Nifty Microcap 250 and 2.1 pts less than its Dairy Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Income Tax Appellate Tribunal dismissed the Revenue Department's appeals, upholding the CIT(A) order that allowed Dodla Dairy's Section 80-IB deduction claims for Assessment Years 2012-13, 2013-14, 2014-15, 2016-17 and 2017-18. The company is entitled to a tax refund of about Rs 26.2 crores including interest and may receive an additional Rs 6.7 crores after filing rectification applications. The Revenue may further appeal to the High Court.
Positive for shareholders: company wins tax dispute, eligible for Rs 26.2 cr refund plus Rs 6.7 cr more. Revenue may appeal to High Court.