Supreme Court dismisses tax SLP, HCL Infosystems wins Rs 14.90 cr case
HCL-INSYS · price
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Supreme Court has dismissed the Income Tax Department's Special Leave Petition against HCL Infosystems on 13 July 2026. The dispute related to Rs 60.80 crores received from HP in 1997-98 after termination of their joint venture. The tax department treated it as taxable capital gain and raised a Rs 14.90 crores demand. The Income Tax Appellate Tribunal and Delhi High Court had earlier held it as a non-taxable capital receipt. With the Supreme Court dismissing the SLP, the favorable order for the company is now final and no tax is payable.
Positive for shareholders. The Rs 14.90 crore tax demand is permanently set aside, removing a long-pending liability with no cash outflow expected.