Jubilant Foodworks Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
JUBLFOOD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jubilant FoodWorks has received an Income Tax Appellate Tribunal order for financial year 2015-16, which upheld the CIT(A) decision against the company. The Tribunal disregarded the company's arguments and deviated from an earlier favorable Allahabad High Court ruling on the same issue. The company is now planning to file an appeal before the Allahabad High Court and pursue other legal remedies. The company has stated that after the redressal process, it does not anticipate any material financial implications. This is a continuation of an earlier intimation dated August 14, 2023.
The unfavourable tribunal order is a setback in the tax dispute, but the company's confidence in no material financial impact and its plan to appeal at the High Court should limit near-term negative stock reaction. Investors should monitor the High Court appeal outcome as it could have implications if the appeal also goes against the company.