Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
JK Agri Genetics has received an order from the Commissioner of Income Tax (Appeals) on April 17, 2026, in a long-running tax dispute over R&D expense claims for FY 2017-18. The original assessment in April 2021 had disallowed ₹9.89 crore of expenses (150% weighted deduction on ₹6.59 crore of R&D spend), with a tax impact of ₹3.42 crore. After the DSIR issued Form 3CL narrowing the disallowance, the CIT (Appeals) has now upheld a disallowance of only ₹1.50 crore in outsourced labour expenses. The resulting tax demand is ₹0.52 crore (plus any interest), but the company has stated this will be fully adjusted against its available MAT credit, so there will be no cash outflow. The company is considering filing a further appeal with the Income Tax Appellate Tribunal (ITAT) within 60 days.
Negligible financial impact for shareholders, as the ₹0.52 crore demand will be absorbed by existing MAT credit with no cash outflow. The outcome is broadly positive versus the original ₹3.42 crore exposure, and the company still has the option to appeal further at ITAT.