Income Tax Demand of Rs 7.10 Crore, Company to Appeal

Enforcement RaidRegulatory & Legal View source PDF Explain this filing

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

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₹161.68

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+1.0%-0.5% vs market

Pesticides & Agrochemicals peers, median of 28sector-0.0%+0.6% vs sector

On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 0.6 pts more than its Pesticides & Agrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Pesticides & Agrochemicals peers, median of 28Pending

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AI summary

India Pesticides received an Income Tax demand of Rs 7.10 crore for the block period April 2018 to February 2025, following a search and seizure operation in December 2024. The assessing officer made additions of about Rs 10.12 crore towards alleged unexplained investments and unaccounted sales. The company says the demand is not legally valid and plans to file an appeal, with management confident there is no material financial impact.

Likely market impact

Tax demand of Rs 7.10 crore is material but company plans to appeal; near-term overhang until resolved.