Tax appeal dismissed; company to file further appeal

Litigation LossRegulatory & Legal View source PDF Explain this filing

ESABINDIA · price

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

+0.5%Reaction day

₹6202.50

prior close

₹6300.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+0.3% vs market

Other Industrial Products peers, median of 26sector-0.6%+1.1% vs sector

On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 1.1 pts more than its Other Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.5

10m

-0.8

15m

-0.9

30m

-1.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.5+0.3+0.3-0.6+1.1

Next day

-0.2-0.2+0.0-1.0+0.9

-0.6+0.4-1.0-0.9+0.4

-1.5+0.2-1.6-0.8-0.7

-0.4+0.5-0.9+0.1-0.5

-1.0+0.8-1.8-0.0-1.0

-2.5-0.8-1.7-2.9+0.4

15d

-7.4-2.1-5.3-5.0-2.5

-10.1+0.2-10.4-4.4-5.8

-14.8-9.2-5.6-8.9-5.9

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UpDownMarket · Nifty Microcap 250Sector · Other Industrial Products peers, median of 26Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

ESAB India lost its appeal before CIT(A) against income tax penalties of Rs.1.23 crore for AY 2017-18 and Rs.21.86 lakh for AY 2018-19, totaling about Rs.1.45 crore. Penalties relate to alleged underreporting of income. The company plans to appeal further to higher tax authorities.

Likely market impact

Penalty amount is small relative to company size; further appeal may take time but unlikely to materially impact financials.